Fenimore Asset Management Inc. increased its stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 468,905 shares of the semiconductor company’s stock after purchasing an additional 9,854 shares during the period. Analog Devices accounts for 2.4% of Fenimore Asset Management Inc.’s portfolio, making the stock its 16th largest position. Fenimore Asset Management Inc. owned approximately 0.09% of Analog Devices worth $92,477,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in ADI. Kistler Tiffany Companies LLC bought a new stake in Analog Devices during the 4th quarter valued at $25,000. My Personal CFO LLC bought a new stake in Analog Devices during the 4th quarter valued at $29,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Analog Devices during the 4th quarter valued at $34,000. Worth Asset Management LLC bought a new stake in Analog Devices during the 1st quarter valued at $33,000. Finally, Grey Fox Wealth Advisors LLC bought a new stake in Analog Devices during the 4th quarter valued at $35,000. Institutional investors own 85.91% of the company’s stock.
Insider Activity at Analog Devices
In related news, CFO Prashanth Mahendra-Rajah sold 30,591 shares of Analog Devices stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $192.75, for a total transaction of $5,896,415.25. Following the completion of the sale, the chief financial officer now owns 27,458 shares of the company’s stock, valued at $5,292,529.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, Director Kenton J. Sicchitano sold 8,460 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $192.50, for a total value of $1,628,550.00. Following the completion of the sale, the director now owns 28,335 shares of the company’s stock, valued at $5,454,487.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 30,591 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $192.75, for a total value of $5,896,415.25. Following the completion of the sale, the chief financial officer now directly owns 27,458 shares of the company’s stock, valued at approximately $5,292,529.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,051 shares of company stock valued at $12,050,715. Insiders own 0.46% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. KeyCorp dropped their price objective on Analog Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, May 25th. StockNews.com raised Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Susquehanna dropped their price objective on Analog Devices from $225.00 to $215.00 in a research note on Wednesday, May 24th. JPMorgan Chase & Co. dropped their price objective on Analog Devices from $210.00 to $205.00 in a research note on Tuesday, May 30th. Finally, BMO Capital Markets dropped their price objective on Analog Devices from $215.00 to $200.00 in a research note on Thursday, May 25th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $208.04.
Analog Devices Stock Performance
Shares of ADI stock opened at $194.81 on Friday. Analog Devices, Inc. has a 1-year low of $133.48 and a 1-year high of $198.24. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $97.68 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.46 and a beta of 1.14. The stock’s fifty day simple moving average is $183.83 and its 200-day simple moving average is $180.55.
Analog Devices (NASDAQ:ADI – Free Report) last released its quarterly earnings data on Wednesday, May 24th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.08. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Analog Devices had a return on equity of 15.27% and a net margin of 28.16%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 10.57 earnings per share for the current fiscal year.
Analog Devices Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 14th. Investors of record on Monday, June 5th were given a dividend of $0.86 per share. The ex-dividend date was Friday, June 2nd. This represents a $3.44 dividend on an annualized basis and a yield of 1.77%. Analog Devices’s payout ratio is 48.73%.
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 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 high-end consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.
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