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

Townsquare Capital LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 23.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,838 shares of the semiconductor company’s stock after buying an additional 2,431 shares during the quarter. Townsquare Capital LLC’s holdings in Analog Devices were worth $2,955,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the third quarter worth approximately $28,000. New Millennium Group LLC purchased a new position in Analog Devices during the 2nd quarter worth $29,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC grew its holdings in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, CVA Family Office LLC increased its position in Analog Devices by 40.2% in the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 0.4 %

Shares of ADI stock opened at $218.05 on Friday. The company has a market capitalization of $108.22 billion, a price-to-earnings ratio of 66.28, a PEG ratio of 3.35 and a beta of 1.08. The company has a current ratio of 1.84, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $224.14 and a 200 day moving average price of $225.86. Analog Devices, Inc. has a twelve month low of $179.63 and a twelve month high of $244.14.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADI. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial dropped their price objective on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Analog Devices in a report on Thursday, August 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $249.33.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $11,672,108.91. This trade represents a 16.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $6,867,900.00. Following the completion of the sale, the executive vice president now directly owns 79,093 shares in the company, valued at $18,106,760.49. This represents a 27.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock valued at $24,883,200. Company insiders own 0.31% of the company’s stock.

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.