Paradiem LLC Has $7.96 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Paradiem LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 44.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,084 shares of the semiconductor company’s stock after acquiring an additional 12,319 shares during the period. Analog Devices accounts for approximately 2.2% of Paradiem LLC’s holdings, making the stock its 9th biggest holding. Paradiem LLC’s holdings in Analog Devices were worth $7,959,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CTC Alternative Strategies Ltd. bought a new position in shares of Analog Devices in the 4th quarter valued at about $1,152,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Analog Devices by 107.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after acquiring an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its stake in Analog Devices by 37.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after purchasing an additional 2,215 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Analog Devices by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after purchasing an additional 4,516 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Analog Devices by 31.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after purchasing an additional 89,504 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ADI shares. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research note on Thursday, January 18th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price on shares of Analog Devices in a research report on Thursday, February 22nd. Barclays raised their target price on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Truist Financial reduced their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $4.03 on Friday, hitting $201.97. 3,136,261 shares of the company were exchanged, compared to its average volume of 3,090,032. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The stock’s 50 day moving average price is $193.45 and its 200 day moving average price is $187.36. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $100.16 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 5.07 and a beta of 1.17.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. Analog Devices’s payout ratio is currently 65.83%.

Insider Activity at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 over the last three months. Company insiders own 0.31% of the company’s stock.

Analog Devices Company Profile

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.