Rep. Thomas H. Kean, Jr. Buys Analog Devices, Inc. (NASDAQ:ADI) Shares

Representative Thomas H. Kean, Jr. (R-New Jersey) recently bought shares of Analog Devices, Inc. (NASDAQ:ADI). In a filing disclosed on January 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Analog Devices stock on December 13th. The trade occurred in the Representative’s “KEAN FAMILY PARTNERSHIP” account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Canadian Pacific Kansas City (NYSE:CP) on 12/27/2024.
• Purchased $1,001 – $15,000 in shares of Pernod Ricard (OTC:PRNDY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 12/19/2024.
• Sold $1,001 – $15,000 in shares of Franklin Resources (NYSE:BEN) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Prologis (NYSE:PLD) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 12/16/2024.

Analog Devices Price Performance

Analog Devices stock opened at $228.35 on Friday. The stock has a market cap of $113.30 billion, a price-to-earnings ratio of 69.41, a P/E/G ratio of 2.57 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The business’s 50-day simple moving average is $215.88 and its 200 day simple moving average is $222.34.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Activity

In related news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock worth $11,029,300. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

Several institutional investors and hedge funds have recently modified their holdings of ADI. Thrivent Financial for Lutherans grew its position in Analog Devices by 9.8% during the second quarter. Thrivent Financial for Lutherans now owns 24,754 shares of the semiconductor company’s stock worth $5,651,000 after buying an additional 2,216 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Analog Devices by 15.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,672 shares of the semiconductor company’s stock worth $387,000 after buying an additional 223 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Analog Devices by 68.2% in the second quarter. Public Sector Pension Investment Board now owns 19,012 shares of the semiconductor company’s stock valued at $4,340,000 after buying an additional 7,710 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Analog Devices by 13.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,570 shares of the semiconductor company’s stock valued at $1,043,000 after purchasing an additional 553 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Analog Devices by 5.1% during the second quarter. Bank of Montreal Can now owns 697,961 shares of the semiconductor company’s stock worth $159,317,000 after buying an additional 34,144 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Barclays decreased their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Piper Sandler dropped their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $248.70.

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey’s 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey’s 7th Congressional District. He declared candidacy for the 2024 election. Kean has served as state Senate minority leader. He was a member of the New Jersey General Assembly from 2001 to 2003. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.