Mather Group LLC. Buys New Position in Analog Devices, Inc. (NASDAQ:ADI)

Mather Group LLC. acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,785 shares of the semiconductor company’s stock, valued at approximately $527,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Coston McIsaac & Partners acquired a new stake in Analog Devices during the 2nd quarter worth approximately $27,000. Worth Asset Management LLC acquired a new stake in Analog Devices during the 1st quarter worth approximately $33,000. Eagle Bay Advisors LLC acquired a new stake in Analog Devices during the 2nd quarter worth approximately $41,000. Old North State Trust LLC acquired a new stake in Analog Devices during the 3rd quarter worth approximately $43,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in Analog Devices during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analog Devices Trading Up 2.2 %

Analog Devices stock opened at $186.58 on Wednesday. Analog Devices, Inc. has a 52-week low of $133.48 and a 52-week high of $196.41. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $94.38 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.40 and a beta of 1.14. The firm has a 50-day moving average price of $177.42 and a two-hundred day moving average price of $162.48.

Analog Devices (NASDAQ:ADI – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The semiconductor company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.60 by $0.15. Analog Devices had a net margin of 27.27% and a return on equity of 14.69%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business earned $1.94 earnings per share. Analog Devices’s revenue was up 21.1% compared to the same quarter last year. Sell-side analysts expect that Analog Devices, Inc. will post 10.6 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 8th. Shareholders of record on Monday, February 27th were paid a $0.86 dividend. The ex-dividend date was Friday, February 24th. This represents a $3.44 annualized dividend and a dividend yield of 1.84%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.76. Analog Devices’s dividend payout ratio (DPR) is presently 51.89%.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of analyst reports. UBS Group upped their price target on Analog Devices from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. StockNews.com upgraded Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, March 3rd. Cowen upped their price target on Analog Devices from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. Truist Financial upped their price target on Analog Devices from $215.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Finally, Barclays raised their price target on shares of Analog Devices from $145.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 23rd. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $213.68.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director Edward H. Frank sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $193.09, for a total value of $965,450.00. Following the sale, the director now owns 3,000 shares in the company, valued at $579,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward H. Frank sold 5,000 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $193.09, for a total value of $965,450.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $579,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tunc Doluca sold 1,700 shares of the stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $170.00, for a total transaction of $289,000.00. Following the completion of the transaction, the director now owns 66,157 shares of the company’s stock, valued at $11,246,690. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,700 shares of company stock worth $2,420,490. 0.46% of the stock is owned by company insiders.

About Analog Devices

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.