TCW Group Inc. buys shares of 10,778 Analog Devices, Inc. (NASDAQ:ADI)

TCW Group Inc., according to its latest disclosure to the Securities and Exchange Commission (SEC). acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) in the fourth quarter. The company purchased 10,778 shares of the semiconductor company’s stock valued at approximately $2,153,000.

Other institutional investors also modified their holdings in the company. In the fourth quarter, Pinnacle Bancorp Inc. increased its position in Analog Devices shares by 101.6%. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas increased its position in shares of Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in shares of Analog Devices during the third quarter worth approximately $29,000. Cetera Trust Company NA purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Analog Devices during the 4th quarter valued at approximately $29,000. Institutional investors hold 86.81% of the company’s shares.

Confidential transactions in analog devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction amount of $1,974,000.00. Following the sale, the CEO now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a letter filed with the Securities and Exchange Commission, which is available on the SEC’s website. Additionally, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The announcement of this sale can be found here. Over the last 90 days, insiders have sold 24,707 shares of company stock worth $4,874,613. Company insiders own 0.31% of the company’s shares.

Analyst Upgrades and Downgrades

Many stock market analysts rated the company. Morgan Stanley raised their price target on Analog Devices from $221.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen raised their price target on shares of Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial raised their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald increased their price target on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Seven equity research analysts have rated the stock with a hold rating and eighteen have rated the stock with a buy rating. According to MarketBeat data, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.42.

See our latest stock report on ADI

Analog equipment inventory performance

Shares of Analog Devices fell $2.05 during Friday’s session, reaching $232.51. The trading volume of the company’s shares was 4,544,312 shares, while the average trading volume was 3,265,739. Analog Devices, Inc. hit a 52-week low of $154.99 and a 52-week high of $241.88. The company has a market capitalization of $115.38 billion, a PE ratio of 54.32, a P/E/G ratio of 5.82 and a beta of 1.14. The company’s 50-day moving average price is $200.67 and its 200-day moving average price is $193.49. The company has a quick ratio of 0.98, a current ratio of 1.58 and a debt-to-equity ratio of 0.19.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, which topped analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenue for the quarter was $2.16 billion, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company saw an EPS of $2.83. The company’s revenues decreased by 33.8% compared to the same quarter last year. Stock analysts predict that Analog Devices, Inc. will see 5.93 earnings per share for the current year.

Dividend announcement for analog devices

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Stockholders of record on Tuesday, June 4 will receive a dividend of $0.92. This represents an annual dividend of $3.68 and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4. Analog Devices’ dividend payout ratio is currently 85.98%.

Analog device profile

(free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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