Coastal Investment Advisors Inc. Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Coastal Investment Advisors Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,958 shares of the semiconductor company’s stock after buying an additional 64 shares during the period. Coastal Investment Advisors Inc.’s holdings in Analog Devices were worth $437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADI. Man Group plc raised its holdings in shares of Analog Devices by 694.0% in the second quarter. Man Group plc now owns 45,188 shares of the semiconductor company’s stock worth $5,542,000 after buying an additional 39,497 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Analog Devices by 1.8% in the second quarter. AQR Capital Management LLC now owns 282,546 shares of the semiconductor company’s stock worth $34,369,000 after buying an additional 5,055 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Analog Devices by 0.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,588,732 shares of the semiconductor company’s stock worth $194,843,000 after buying an additional 7,538 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Analog Devices by 1.8% in the second quarter. Nuveen Asset Management LLC now owns 1,981,258 shares of the semiconductor company’s stock worth $242,981,000 after buying an additional 34,329 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in shares of Analog Devices in the second quarter worth $10,877,000. 91.90% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ ADI opened at $158.48 on Thursday. The company’s 50-day simple moving average is $145.18 and its 200-day simple moving average is $126.63. Analog Devices, Inc. has a 52-week low of $79.07 and a 52-week high of $161.78. The firm has a market cap of $58.56 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 2.25 and a beta of 1.31. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 0.43.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Monday, November 23rd. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.12. Analog Devices had a net margin of 21.79% and a return on equity of 15.51%. During the same period last year, the business earned $1.19 EPS. Equities research analysts anticipate that Analog Devices, Inc. will post 5.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Stockholders of record on Friday, December 4th were given a $0.62 dividend. The ex-dividend date was Thursday, December 3rd. This represents a $2.48 annualized dividend and a dividend yield of 1.56%. Analog Devices’s dividend payout ratio (DPR) is 50.51%.

A number of analysts have recently weighed in on the stock. Truist increased their price objective on shares of Analog Devices from $136.00 to $164.00 and gave the stock a “buy” rating in a research note on Wednesday, November 25th. KeyCorp increased their price objective on shares of Analog Devices from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 6th. BMO Capital Markets increased their price objective on shares of Analog Devices from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 25th. Piper Sandler increased their price objective on shares of Analog Devices from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 25th. Finally, Loop Capital increased their price objective on shares of Analog Devices from $136.00 to $156.00 and gave the stock a “buy” rating in a research note on Monday, November 30th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $141.96.

In other news, SVP Gregory N. Henderson sold 18,234 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $137.72, for a total value of $2,511,186.48. Following the transaction, the senior vice president now directly owns 24,060 shares of the company’s stock, valued at $3,313,543.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Martin Cotter sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $124.56, for a total transaction of $1,245,600.00. Following the completion of the transaction, the senior vice president now directly owns 13,628 shares in the company, valued at $1,697,503.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,068 shares of company stock worth $7,127,078. Company insiders own 0.42% of the company’s stock.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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