Price T Rowe Associates Inc. MD Sells 321,383 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Price T Rowe Associates Inc. MD lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,017,624 shares of the semiconductor company's stock after selling 321,383 shares during the period. Price T Rowe Associates Inc. MD owned about 1.82% of Analog Devices worth $1,915,885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Broderick Brian C lifted its holdings in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after acquiring an additional 2,017 shares during the period. Curbstone Financial Management Corp acquired a new stake in shares of Analog Devices during the 4th quarter worth about $460,000. Czech National Bank lifted its holdings in Analog Devices by 6.5% during the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company's stock valued at $22,871,000 after purchasing an additional 6,566 shares during the last quarter. Synergy Asset Management LLC boosted its position in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock valued at $5,404,000 after buying an additional 2,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in Analog Devices during the third quarter worth about $20,194,000. Institutional investors own 86.81% of the company's stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock valued at $6,154,756 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Down 0.3 %

Shares of NASDAQ:ADI traded down $0.64 during mid-day trading on Friday, reaching $194.59. 3,206,761 shares of the stock were exchanged, compared to its average volume of 3,458,460. The stock's 50 day simple moving average is $203.25 and its 200-day simple moving average is $212.87. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a market cap of $96.51 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.85 and a beta of 1.06. 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 (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. During the same period last year, the business earned $1.73 EPS. The business's quarterly revenue 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 year.

Analog Devices announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is presently 126.11%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Benchmark boosted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price target 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. Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. Citigroup decreased their price objective on Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Truist Financial boosted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $250.43.

Analog Devices Company 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.