O ROURKE & COMPANY Inc Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

O ROURKE & COMPANY Inc grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 34.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,758 shares of the semiconductor company’s stock after purchasing an additional 1,228 shares during the quarter. O ROURKE & COMPANY Inc’s holdings in Analog Devices were worth $941,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Analog Devices by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 521,438 shares of the semiconductor company’s stock worth $98,531,000 after purchasing an additional 21,522 shares during the period. Point72 Italy S.r.l. bought a new stake in Analog Devices during the fourth quarter valued at about $6,367,000. Grayhawk Investment Strategies Inc. purchased a new position in Analog Devices in the fourth quarter valued at about $850,000. CTC Alternative Strategies Ltd. bought a new position in Analog Devices in the fourth quarter worth about $1,152,000. Finally, Capital International Investors lifted its position in shares of Analog Devices by 5.8% during the fourth quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after buying an additional 246,799 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 40,121 shares of company stock valued at $8,901,654 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ADI shares. Citigroup boosted their price objective on shares of Analog Devices from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein boosted their target price on Analog Devices from $200.00 to $220.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Truist Financial increased their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Oppenheimer boosted their price target on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Susquehanna increased their price objective on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.23.

Analog Devices Stock Performance

ADI traded down $3.08 on Monday, reaching $225.18. The stock had a trading volume of 2,307,117 shares, compared to its average volume of 3,331,967. The business’s 50-day moving average price is $220.13 and its two-hundred day moving average price is $202.72. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88. The company has a market cap of $111.74 billion, a P/E ratio of 52.61, a price-to-earnings-growth ratio of 3.85 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. Analog Devices’s revenue for the quarter was down 33.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.83 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

About Analog Devices

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.