Mendota Financial Group LLC Takes $144,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Mendota Financial Group LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 725 shares of the semiconductor company’s stock, valued at approximately $144,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Analog Devices in the fourth quarter valued at $1,040,194,000. Moneta Group Investment Advisors LLC increased its stake in Analog Devices by 101,479.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after purchasing an additional 4,107,895 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares during the last quarter. Alliancebernstein L.P. increased its stake in Analog Devices by 236.6% in the second quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after purchasing an additional 1,625,377 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after purchasing an additional 1,486,180 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.3 %

Shares of ADI opened at $197.79 on Friday. The company has a market capitalization of $98.09 billion, a P/E ratio of 35.38, a P/E/G ratio of 4.96 and a beta of 1.17. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $202.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a 50-day moving average price of $193.14 and a 200 day moving average price of $184.70.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business posted $2.75 earnings per share. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial dropped their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a research note on Monday, March 4th. Barclays upped their price target on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Finally, The Goldman Sachs Group upped their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.26.

Get Our Latest Report on Analog Devices

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,125,860.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 21,228 shares of company stock valued at $4,134,502 in the last quarter. Insiders own 0.31% of the company’s stock.

Analog Devices Company Profile

(Free Report)

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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