Analog Devices, Inc. $ADI is Mattern Capital Management LLC’s 8th Largest Position

Mattern Capital Management LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 51,552 shares of the semiconductor company’s stock after purchasing an additional 4,612 shares during the quarter. Analog Devices makes up 1.5% of Mattern Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Mattern Capital Management LLC’s holdings in Analog Devices were worth $12,666,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADI. Howard Hughes Medical Institute bought a new stake in shares of Analog Devices during the 2nd quarter valued at about $25,000. RMG Wealth Management LLC purchased a new stake in Analog Devices in the second quarter worth about $26,000. Clayton Financial Group LLC bought a new stake in Analog Devices during the 3rd quarter valued at approximately $31,000. Sound Income Strategies LLC grew its holdings in shares of Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 95 shares during the period. Finally, Nova Wealth Management Inc. bought a new position in shares of Analog Devices in the 1st quarter worth approximately $42,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total transaction of $873,093.75. Following the sale, the director directly owned 136,321 shares of the company’s stock, valued at $38,086,724.19. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Michael Sondel sold 8,169 shares of Analog Devices stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total value of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares of the company’s stock, valued at $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 30,419 shares of company stock worth $7,811,917. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $350.00 price target on shares of Analog Devices in a research report on Tuesday, December 16th. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $310.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Evercore ISI decreased their price target on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Wall Street Zen lowered shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Finally, UBS Group upped their price objective on shares of Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.22.

Analog Devices Stock Performance

Shares of ADI stock opened at $271.20 on Friday. The company has a market capitalization of $132.79 billion, a price-to-earnings ratio of 59.47, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $284.23. The company’s 50-day moving average is $256.36 and its 200 day moving average is $245.36.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were given a $0.99 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.5%. Analog Devices’s dividend payout ratio is 86.84%.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.