Paradiem LLC Increases Stake in Analog Devices, Inc.

Paradiem LLC has raised its investment in Analog Devices, Inc. (NASDAQ:ADI) by 7.7% during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). After purchasing an additional 4,034 shares, Paradiem now owns a total of 56,113 shares in the semiconductor firm. This investment represents 3.2% of Paradiem LLC's portfolio, making Analog Devices its 13th largest holding. As per the recent filing, the total value of Paradiem's holdings in Analog Devices stands at approximately $11,922,000.

Among other institutional investors making adjustments to their positions in Analog Devices, Thrivent Financial for Lutherans increased its stake by 9.8% in the second quarter, now holding 24,754 shares valued at around $5,651,000 after acquiring 2,216 additional shares. EverSource Wealth Advisors LLC also expanded its position by 15.4%, owning 1,672 shares worth $387,000 post-purchase of 223 shares. Furthermore, the Public Sector Pension Investment Board enhanced its holdings by 68.2%, owning 19,012 shares valued at $4,340,000 after acquiring an additional 7,710 shares. Evergreen Capital Management LLC raised its holdings by 13.8%, with a new total of 4,570 shares valued at $1,043,000 after purchasing 553 extras. Lastly, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake by a notable 59.8%, owning 94,993 shares, which are worth $21,683,000 after acquiring 35,543 additional shares. In total, 86.81% of Analog Devices' stock is now held by institutional investors and hedge funds.

Analyst Ratings for Analog Devices

Various research analysts have recently commented on Analog Devices' stock. Cantor Fitzgerald maintained a "neutral" rating with a price target of $250.00 for Analog Devices. Wells Fargo & Company commenced coverage with an "equal weight" rating and a price objective of $220.00. Moreover, Needham & Company LLC reiterated a "hold" rating, and Piper Sandler lowered their price target from $235.00 to $220.00 while keeping a "neutral" stance on the stock. Morgan Stanley also adjusted their target price from $252.00 to $248.00, issuing an "overweight" rating. Currently, seven analysts suggest a hold rating, and 14 have given a buy rating, reflecting a consensus view of a "Moderate Buy" and an average price target of $248.70 according to MarketBeat.com.

Recent Insider Transactions

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices on November 1st at an average price of $223.87, resulting in a total transaction value of $2,238,700. Following this sale, Roche possesses 21,983 shares in the company, with an approximate value of $4,921,334.21, reflecting a 31.27% drop in his position. Additionally, Executive Vice President Gregory M. Bryant sold 20,000 shares on the same day for a total of $4,477,400. This sale leaves Bryant with 59,093 shares worth about $13,229,149.91, indicating a 25.29% decrease in his holdings. Over the past 90 days, insiders have sold 50,000 shares totaling roughly $11,029,300, and currently, insiders own 0.31% of the company’s stock.

Stock Performance of Analog Devices

Analog Devices' stock opened at $224.08. The company boasts a debt-to-equity ratio of 0.19, a current ratio of 1.84, and a quick ratio of 1.35. The 50-day moving average of the stock is $215.66, while the 200-day moving average stands at $222.33. The firm recorded a 52-week low of $182.57 and a high of $244.14. Analog Devices holds a market capitalization of $111.18 billion, with a P/E ratio of 68.11, a PEG ratio of 2.51, and a beta of 1.05.

On November 26th, the company reported earning results, revealing an earnings per share (EPS) of $1.67 for the quarter, slightly surpassing the consensus estimate of $1.64. The revenue reported was $2.44 billion, which also exceeded estimates of $2.41 billion. Although Analog Devices saw a decline of 10.1% in revenue year-over-year, the returned margins stood at 17.35%, with a return on equity of 9.01%. For the current fiscal year, analysts forecast an EPS of 7.09.

Dividend Declaration by Analog Devices

Recently, Analog Devices announced a quarterly dividend that was paid out on December 20th, with stockholders of record on December 9th receiving a dividend of $0.92. The ex-dividend date was also December 9th, leading to an annualized dividend of $3.68, resulting in a dividend yield of 1.64%. Notably, the payout ratio for Analog Devices is 111.85%.

Company Overview of Analog Devices

Analog Devices, Inc. specializes in designing, manufacturing, testing, and marketing integrated circuits (ICs), software, and subsystem products across various regions, including the United States, North America, South America, Europe, Japan, China, and other parts of Asia. The company's offerings include data conversion products which convert real-world analog signals into digital data, power management solutions, and power integrated circuits that aid in energy management and driver monitoring across automotive and industrial sectors.

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