Clark Capital Management Group Inc. Invests $257,000 in Analog Devices, Inc. (NASDAQ:ADI)

Clark Capital Management Group Inc. acquired a new position in Analog Devices, Inc. (NASDAQ:ADIGet Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,464 shares of the semiconductor company’s stock, valued at approximately $257,000.

A number of other hedge funds also recently bought and sold shares of the stock. Public Sector Pension Investment Board lifted its holdings in Analog Devices by 9.9% in the fourth quarter. Public Sector Pension Investment Board now owns 717,657 shares of the semiconductor company’s stock worth $126,143,000 after purchasing an additional 64,440 shares during the period. Rokos Capital Management LLP purchased a new stake in Analog Devices during the fourth quarter valued at about $25,289,000. GHP Investment Advisors Inc. lifted its stake in Analog Devices by 2.7% during the fourth quarter. GHP Investment Advisors Inc. now owns 37,958 shares of the semiconductor company’s stock valued at $6,672,000 after buying an additional 985 shares in the last quarter. Schroder Investment Management Group lifted its stake in Analog Devices by 18.9% during the fourth quarter. Schroder Investment Management Group now owns 287,992 shares of the semiconductor company’s stock valued at $50,620,000 after buying an additional 45,816 shares in the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. lifted its stake in Analog Devices by 3.1% during the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 501,708 shares of the semiconductor company’s stock valued at $88,185,000 after buying an additional 14,861 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

In other Analog Devices news, Director Tunc Doluca sold 4,700 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $159.76, for a total transaction of $750,872.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Prashanth Mahendra-Rajah sold 3,901 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $163.14, for a total value of $636,409.14. Following the transaction, the chief financial officer now owns 16,108 shares of the company’s stock, valued at $2,627,859.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,901 shares of company stock valued at $2,951,831. 0.91% of the stock is owned by company insiders.

A number of analysts have commented on the stock. Daiwa Capital Markets reduced their price objective on shares of Analog Devices from $217.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, February 17th. Truist Financial upped their target price on Analog Devices from $194.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, May 19th. Sanford C. Bernstein upped their target price on Analog Devices to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 19th. Oppenheimer reiterated an “outperform” rating and issued a $210.00 target price on shares of Analog Devices in a report on Monday, May 16th. Finally, StockNews.com began coverage on Analog Devices in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Five equities 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, Analog Devices presently has a consensus rating of “Buy” and an average target price of $199.52.

Shares of ADI stock opened at $162.32 on Thursday. Analog Devices, Inc. has a 12 month low of $143.81 and a 12 month high of $191.95. The company has a quick ratio of 1.65, a current ratio of 1.99 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $160.00 and its two-hundred day moving average is $166.18. The company has a market cap of $84.37 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07.

Analog Devices (NASDAQ:ADIGet Rating) last announced its quarterly earnings results on Wednesday, May 18th. The semiconductor company reported $2.40 EPS for the quarter, beating the consensus estimate of $2.11 by $0.29. Analog Devices had a return on equity of 12.11% and a net margin of 16.84%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the company posted $1.54 earnings per share. The company’s revenue for the quarter was up 78.9% compared to the same quarter last year. As a group, equities analysts expect that Analog Devices, Inc. will post 8.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Tuesday, May 31st will be given a $0.76 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $3.04 annualized dividend and a yield of 1.87%. Analog Devices’s dividend payout ratio (DPR) is currently 86.12%.

About Analog Devices (Get Rating)

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 include performance, integration, and software design simulation tools for accurate power supply designs.

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

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