Townsquare Capital LLC Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Townsquare Capital LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 23.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,838 shares of the semiconductor company’s stock after purchasing an additional 2,431 shares during the quarter. Townsquare Capital LLC’s holdings in Analog Devices were worth $2,955,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the third quarter valued at approximately $28,000. New Millennium Group LLC acquired a new stake in Analog Devices in the 2nd quarter valued at $29,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. ORG Partners LLC raised its position in Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 135 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday. Truist Financial decreased their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday. Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Stock Up 0.4 %

Shares of NASDAQ:ADI opened at $218.05 on Friday. The firm has a market capitalization of $108.22 billion, a PE ratio of 66.28, a price-to-earnings-growth ratio of 3.35 and a beta of 1.08. Analog Devices, Inc. has a 1 year low of $179.63 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.24. The firm’s 50-day moving average is $224.14 and its two-hundred day moving average is $225.86.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a $0.92 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.69%. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the transaction, the chief executive officer now owns 45,326 shares of the company’s stock, valued at $10,376,481.18. This represents a 18.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock valued at $24,883,200. 0.31% of the stock is currently owned by company insiders.

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.