Townsquare Capital LLC Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Townsquare Capital LLC has raised its investment in Analog Devices, Inc. (NASDAQ:ADI) by 23.4% in the third quarter, as reported in the latest 13F filing with the Securities and Exchange Commission (SEC). Following the purchase of an additional 2,431 shares during the quarter, the firm now holds a total of 12,838 shares in the semiconductor company, valued at approximately $2,955,000 according to the recent filing.

In addition to Townsquare Capital LLC, several other institutional investors have updated their positions in Analog Devices. For instance, Capital Performance Advisors LLP established a new stake valued at about $28,000 in the third quarter. Similarly, New Millennium Group LLC gained a new position worth $29,000 in the second quarter. Archer Investment Corp has been particularly active by increasing its holdings by 101.4% in the third quarter, now owning 145 shares worth around $33,000 after acquiring an extra 73 shares last quarter. ORG Partners LLC experienced a substantial increase of 675.0% in their position during the second quarter and now holds 155 shares valued at $35,000 after adding 135 more shares. CVA Family Office LLC also raised its holdings by 40.2% in the same quarter, bringing their total to 157 shares worth $36,000. Collectively, hedge funds and other institutional investors own approximately 86.81% of the shares of Analog Devices.

Analyst Ratings Changes

Recently, various research firms have commented on Analog Devices. Needham & Company LLC maintained a "hold" rating on the shares in a report. Truist Financial adjusted its target price for Analog Devices from $233.00 to $227.00 and has set a "hold" rating. Morgan Stanley has decreased its price target from $252.00 to $248.00 while maintaining an "overweight" rating. Wells Fargo & Company recently began coverage of Analog Devices, issuing an "equal weight" rating alongside a price target of $220.00. Cantor Fitzgerald also reaffirmed a "neutral" rating with a target price of $250.00 for the shares. In total, seven analysts have assigned a hold rating, whereas sixteen analysts have given a buy rating, leading to an average rating of "Moderate Buy" with an average target price of $249.33.

Analog Devices Stock Performance

On Friday, shares of NASDAQ:ADI opened at $218.05. The company has a market cap of $108.22 billion, a PE ratio of 66.28, and a price-to-earnings-growth ratio of 3.35. The stock has seen a 1-year low of $179.63 and a high of $244.14. Its debt-to-equity ratio stands at 0.19, while its current ratio is 1.84 and quick ratio is 1.24. The 50-day moving average is $224.14, while the 200-day moving average is $225.86.

Dividend Announcement

Analog Devices has also recently declared a quarterly dividend set to be paid on December 20th. Shareholders who are on record as of December 9th will receive a $0.92 dividend. The ex-dividend date is also December 9th. This dividend represents an annualized total of $3.68 and a yield of 1.69%. Currently, the company’s dividend payout ratio is at 111.85%.

Insider Transactions at Analog Devices

In insider news, EVP Gregory M. Bryant sold 30,000 shares on September 25th at an average price of $224.10, resulting in a transaction worth $6,723,000. Following this sale, he now directly owns 109,093 shares valued at approximately $24.4 million, marking a 21.57% decrease in his ownership. CEO Vincent Roche also sold 10,000 shares on October 1st at an average of $228.93, a transaction valued at $2,289,300, which reduced his holdings to 45,326 shares worth about $10.38 million (an 18.07% decrease). Over the past 90 days, insiders have sold a total of 110,000 shares valued at $24.88 million, with only 0.31% of the stock currently owned by insiders.

Company Profile of Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products across various markets, including the United States, the Americas, Europe, Japan, China, and Asia. The company specializes in data converter products, which convert real-world analog signals to digital data and vice versa. They also provide power management and reference products for energy management applications across multiple industries such as automotive, communications, industrial, and consumer markets.

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