Forte Capital LLC ADV Takes $300,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Forte Capital LLC ADV bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,511 shares of the semiconductor company’s stock, valued at approximately $300,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Amarillo National Bank grew its stake in shares of Analog Devices by 3.7% in the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 54 shares during the last quarter. Keystone Financial Services increased its position in shares of Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after buying an additional 55 shares during the period. Ancora Advisors LLC lifted its holdings in Analog Devices by 2.1% in the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 57 shares during the period. Legacy Advisors LLC boosted its position in Analog Devices by 2.3% during the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after acquiring an additional 59 shares during the last quarter. Finally, MRA Advisory Group grew its holdings in Analog Devices by 2.5% during the 3rd quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock worth $444,000 after acquiring an additional 61 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,057,745.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,874,613 over the last three months. 0.31% of the stock is owned by company insiders.

Analog Devices Price Performance

ADI stock traded up $3.14 during midday trading on Friday, reaching $199.63. The company had a trading volume of 2,372,862 shares, compared to its average volume of 3,339,473. The firm has a 50-day moving average price of $194.27 and a 200-day moving average price of $188.15. The company has a market capitalization of $99.00 billion, a P/E ratio of 35.71, a P/E/G ratio of 4.93 and a beta of 1.14. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 EPS. On average, research analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.92 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Monday, March 4th. Analog Devices’s payout ratio is 65.83%.

Analyst Upgrades and Downgrades

ADI has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Evercore ISI started coverage on Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. The Goldman Sachs Group increased their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a report on Thursday, January 18th. Finally, KeyCorp increased their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

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.