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

Townsquare Capital LLC has increased its investment in Analog Devices, Inc. (NASDAQ:ADI) by 23.4% during the third quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 2,431 shares, the firm now holds a total of 12,838 shares in the semiconductor company. The value of Townsquare Capital's holdings in Analog Devices stands at approximately $2,955,000 based on the most recent SEC filing.

Other institutional investors have also adjusted their positions in Analog Devices. For instance, Capital Performance Advisors LLP made a new investment worth around $28,000 in the third quarter. Similarly, New Millennium Group LLC made a $29,000 investment during the second quarter. Archer Investment Corp increased its holding by 101.4% during the third quarter, bringing its total to 145 shares valued at $33,000 after purchasing an additional 73 shares. ORG Partners LLC raised its position in Analog Devices by 675.0% during the second quarter, now owning 155 shares valued at $35,000 after a purchase of 135 shares. Lastly, CVA Family Office LLC raised its investment by 40.2% during the second quarter, with 157 shares now valued at $36,000 after buying an additional 45 shares. Overall, 86.81% of Analog Devices' stock is owned by institutional investors and hedge funds.

Recent Analyst Ratings

Multiple research firms have recently commented on Analog Devices. Needham & Company LLC maintained a "hold" rating on the stock in a report released on Wednesday. Truist Financial lowered their target price for Analog Devices from $233.00 to $227.00, also assigning a "hold" rating to the stock. Morgan Stanley reduced their price target from $252.00 to $248.00, providing an "overweight" rating in their report on the same day. Wells Fargo & Company started coverage on Analog Devices with an "equal weight" rating and a price objective set at $220.00. Additionally, Cantor Fitzgerald reiterated a "neutral" rating while setting a target price of $250.00. In total, seven research analysts have rated Analog Devices as a hold, while sixteen others have given it a buy rating. According to MarketBeat data, the average rating stands at "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 boasts a market cap of $108.22 billion, with a PE ratio of 66.28 and a price-to-earnings-growth ratio of 3.35. The stock has traded within a yearly range of $179.63 and $244.14. Analog Devices maintains a debt-to-equity ratio of 0.19 and a current ratio of 1.84, with a quick ratio of 1.24. The 50-day moving average is listed at $224.14 alongside a 200-day moving average of $225.86.

Dividend Announcement

Recently, Analog Devices declared a quarterly dividend scheduled for payment on Friday, December 20th. Shareholders on record as of Monday, December 9th, will receive a dividend of $0.92. The ex-dividend date for this payment is set for December 9th. This dividend translates to an annualized amount of $3.68, offering a yield of 1.69%. Currently, Analog Devices has a dividend payout ratio of 111.85%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares on September 25th at an average price of $224.10, totaling around $6,723,000. This sale represents a 21.57% reduction in his ownership. Following this transaction, he retains 109,093 shares valued at about $24,447,741.30. Additionally, CEO Vincent Roche sold 10,000 shares on October 1st at an average price of $228.93, amounting to approximately $2,289,300. This transaction reflects an 18.07% decrease in his stake, leaving him with 45,326 shares worth around $10,376,481.18. In the past 90 days, insiders have sold around 110,000 shares valued at $24,883,200, meaning that 0.31% of stock is held by company insiders.

Profile of Analog Devices

Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystem products. The company operates in the United States, as well as throughout North and South America, Europe, Japan, China, and other parts of Asia. They provide data converter products that transform real-world analog signals into digital data and vice versa. Furthermore, they develop power management and reference products aimed at power conversion, monitoring, sequencing, and energy management for automotive, communication, industrial, and consumer markets, along with power ICs designed for optimal performance and integration in power supply design.

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