Y Intercept Hong Kong Ltd Makes New Investment in Analog Devices, Inc. $ADI

Y Intercept Hong Kong Ltd purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, Holdings Channel reports. The fund purchased 8,248 shares of the semiconductor company’s stock, valued at approximately $2,027,000.

Other institutional investors have also made changes to their positions in the company. Howard Hughes Medical Institute bought a new position in Analog Devices during the second quarter valued at about $25,000. RMG Wealth Management LLC acquired a new position in shares of Analog Devices during the 2nd quarter valued at about $26,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices in the 3rd quarter valued at approximately $31,000. Sound Income Strategies LLC lifted its holdings in Analog Devices by 141.8% in the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares during the last quarter. Finally, Access Investment Management LLC bought a new stake in Analog Devices during the second quarter worth approximately $45,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ:ADI opened at $317.63 on Thursday. The firm’s 50-day moving average is $280.63 and its 200-day moving average is $253.44. The company has a market cap of $155.20 billion, a price-to-earnings ratio of 69.66, a PEG ratio of 1.64 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 52-week low of $158.65 and a 52-week high of $318.17.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a dividend of $0.99 per share. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.2%. Analog Devices’s payout ratio is currently 86.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Wells Fargo & Company set a $340.00 target price on shares of Analog Devices and gave the company an “overweight” rating in a research note on Thursday, January 15th. Susquehanna boosted their target price on shares of Analog Devices from $350.00 to $360.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. Weiss Ratings cut shares of Analog Devices from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Finally, Zacks Research upgraded Analog Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $275.07, for a total value of $2,750,700.00. Following the completion of the transaction, the chief executive officer owned 155,688 shares in the company, valued at approximately $42,825,098.16. This represents a 6.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the transaction, the chief accounting officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,544 shares of company stock valued at $14,328,561 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Analog Devices Company Profile

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.