Optimize Financial Inc Acquires Shares of 5,601 Analog Devices, Inc. $ADI

Optimize Financial Inc bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,601 shares of the semiconductor company’s stock, valued at approximately $1,376,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADI. Vanguard Group Inc. lifted its stake in Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares in the last quarter. State Street Corp increased its holdings in shares of Analog Devices by 2.2% in the second quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after purchasing an additional 506,507 shares during the last quarter. Geode Capital Management LLC lifted its position in Analog Devices by 5.7% during the second quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after buying an additional 633,425 shares in the last quarter. Norges Bank acquired a new position in Analog Devices during the second quarter worth $1,803,377,000. Finally, Ameriprise Financial Inc. grew its holdings in Analog Devices by 6.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after buying an additional 375,207 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ADI shares. Zacks Research raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Bank of America lifted their target price on shares of Analog Devices from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Benchmark reissued a “buy” rating and issued a $285.00 price target on shares of Analog Devices in a research note on Wednesday, November 26th. Wall Street Zen raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, JPMorgan Chase & Co. increased their price objective on Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Three 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $312.04.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $306.92, for a total transaction of $3,069,200.00. Following the sale, the chief executive officer directly owned 155,688 shares in the company, valued at $47,783,760.96. This represents a 6.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael Sondel sold 8,169 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the transaction, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This represents a 30.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 50,419 shares of company stock worth $14,328,855 over the last 90 days. Company insiders own 0.36% of the company’s stock.

Analog Devices Stock Down 1.8%

Shares of NASDAQ ADI opened at $311.29 on Wednesday. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $321.23. The business’s 50 day moving average is $286.81 and its two-hundred day moving average is $255.58. The firm has a market cap of $152.11 billion, a price-to-earnings ratio of 68.27, a PEG ratio of 1.72 and a beta of 1.03. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the business earned $1.67 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current 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 issued a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.3%. Analog Devices’s 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.