Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Oak Harvest Investment Services

Oak Harvest Investment Services increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,604 shares of the semiconductor company’s stock after acquiring an additional 4,269 shares during the period. Oak Harvest Investment Services’ holdings in Analog Devices were worth $7,564,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADI. Crews Bank & Trust acquired a new stake in Analog Devices in the fourth quarter valued at $50,000. OLD National Bancorp IN boosted its position in shares of Analog Devices by 6.8% in the 4th quarter. OLD National Bancorp IN now owns 14,607 shares of the semiconductor company’s stock worth $3,103,000 after buying an additional 930 shares in the last quarter. Synergy Asset Management LLC grew its stake in Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after acquiring an additional 2,554 shares during the last quarter. Baron Wealth Management LLC increased its holdings in Analog Devices by 8.3% during the 4th quarter. Baron Wealth Management LLC now owns 5,237 shares of the semiconductor company’s stock valued at $1,113,000 after acquiring an additional 403 shares in the last quarter. Finally, Invesco LLC raised its position in Analog Devices by 28.1% during the fourth quarter. Invesco LLC now owns 3,519 shares of the semiconductor company’s stock worth $748,000 after acquiring an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 1.2 %

ADI stock opened at $212.40 on Friday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $105.37 billion, a price-to-earnings ratio of 64.56, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The firm’s 50-day moving average is $216.50 and its two-hundred day moving average is $221.67.

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

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is presently 111.85%.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. 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, November 27th. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

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.