Merit Financial Group LLC Raises Stake in Analog Devices, Inc. (NASDAQ:ADI)

Merit Financial Group LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 40.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,776 shares of the semiconductor company’s stock after buying an additional 1,656 shares during the period. Merit Financial Group LLC’s holdings in Analog Devices were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates boosted its position in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after acquiring an additional 1,422,054 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after buying an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 1.0 %

Shares of NASDAQ:ADI opened at $221.45 on Wednesday. The company has a 50 day moving average of $215.62 and a 200-day moving average of $222.39. 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 firm has a market cap of $109.87 billion, a P/E ratio of 67.31, a P/E/G ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping 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 firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm posted $2.01 earnings per share. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.66%. Analog Devices’s payout ratio is currently 111.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADI shares. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler reduced 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. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Truist Financial lifted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $11,029,300 over the last ninety days. Insiders own 0.31% of the company’s stock.

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.