Hickory Asset Management Inc. Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Hickory Asset Management Inc. acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,723 shares of the semiconductor company’s stock, valued at approximately $366,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Analog Devices during the third quarter worth $28,000. Archer Investment Corp grew its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners bought a new position in Analog Devices in the 4th quarter valued at $33,000. Peterson Financial Group Inc. bought a new position in Analog Devices in the 3rd quarter valued at $43,000. Finally, Reston Wealth Management LLC bought a new position in Analog Devices in the 3rd quarter valued at $48,000. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $214.61 on Friday. 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 capitalization of $106.47 billion, a PE ratio of 65.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. The business’s 50-day moving average price is $214.11 and its 200-day moving average price is $219.80. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company earned $2.01 EPS. The company’s revenue was down 10.1% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared 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. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADI. Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.52.

Analog Devices 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.