2Xideas AG decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 68.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,765 shares of the semiconductor company's stock after selling 22,851 shares during the period. 2Xideas AG's holdings in Analog Devices were worth $2,287,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices during the 4th quarter valued at about $30,000. Mainstream Capital Management LLC bought a new stake in Analog Devices during the 4th quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC grew its holdings in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares during the period. Financial Life Planners purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 86.81% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on ADI. Maxim Group assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark lifted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $255.41.
View Our Latest Analysis on Analog Devices
Analog Devices Stock Performance
NASDAQ:ADI traded down $0.54 during trading hours on Friday, reaching $177.83. The company had a trading volume of 3,346,815 shares, compared to its average volume of 3,433,021. The firm has a market cap of $88.20 billion, a price-to-earnings ratio of 55.92, a PEG ratio of 2.85 and a beta of 1.06. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm's 50 day moving average price is $209.43 and its 200-day moving average price is $216.37. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. Analog Devices's revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.23%. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.
Analog Devices declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
Insider Activity at Analog Devices
In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,684 shares of company stock worth $5,591,600. 0.33% of the stock is owned by company insiders.
About Analog Devices
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Free Report)
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.
Further Reading
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