Madison Investment Advisors LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 524,664 shares of the semiconductor company's stock, valued at approximately $111,470,000. Analog Devices accounts for about 1.3% of Madison Investment Advisors LLC's investment portfolio, making the stock its 19th largest position. Madison Investment Advisors LLC owned about 0.11% of Analog Devices at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Bank of Hawaii increased its position in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after purchasing an additional 48 shares during the period. NTV Asset Management LLC boosted its stake in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after purchasing an additional 54 shares in the last quarter. West Oak Capital LLC increased its position in shares of Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after buying an additional 55 shares during the period. D.A. Davidson & CO. lifted its holdings in Analog Devices by 0.8% in the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company's stock worth $1,568,000 after buying an additional 57 shares during the period. Finally, Relyea Zuckerberg Hanson LLC lifted its holdings in Analog Devices by 4.3% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company's stock worth $299,000 after buying an additional 58 shares during the period. 86.81% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ADI has been the subject of several research reports. Wells Fargo & Company increased their target price on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. UBS Group raised their price objective on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $255.41.
Check Out Our Latest Stock Analysis on ADI
Analog Devices Stock Performance
NASDAQ ADI opened at $206.62 on Thursday. The business has a 50-day moving average price of $218.37 and a 200-day moving average price of $220.89. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The firm has a market cap of $102.48 billion, a price-to-earnings ratio of 65.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.92%. Analog Devices's dividend payout ratio is presently 126.11%.
Analog Devices declared that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.
Insider Transactions at Analog Devices
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company's stock.
About Analog Devices
(
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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