Newbridge Financial Services Group Inc. Buys Shares of 325 Analog Devices, Inc. (NASDAQ:ADI)

Newbridge Financial Services Group Inc. purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 325 shares of the semiconductor company’s stock, valued at approximately $69,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Raymond James & Associates lifted its stake in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. lifted its position in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after purchasing an additional 883,888 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $204.86 on Tuesday. The company has a market capitalization of $101.63 billion, a P/E ratio of 62.27, a P/E/G ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The firm’s 50 day simple moving average is $215.21 and its two-hundred day simple moving average is $220.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the company earned $2.01 EPS. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced 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. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Finally, Morgan Stanley decreased their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

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.