MML Investors Services LLC Has $16.70 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

MML Investors Services LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,612 shares of the semiconductor company's stock after purchasing an additional 3,288 shares during the quarter. MML Investors Services LLC's holdings in Analog Devices were worth $16,702,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ADI. Invst LLC boosted its position in Analog Devices by 7.7% during the 3rd quarter. Invst LLC now owns 974 shares of the semiconductor company's stock worth $224,000 after purchasing an additional 70 shares during the period. SkyView Investment Advisors LLC grew its stake in shares of Analog Devices by 4.1% in the third quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company's stock valued at $751,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC raised its holdings in shares of Analog Devices by 33.2% during the 3rd quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company's stock valued at $572,000 after buying an additional 619 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in Analog Devices by 0.9% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company's stock worth $1,768,000 after acquiring an additional 65 shares during the period. Finally, World Investment Advisors LLC grew its position in Analog Devices by 4,581.5% in the third quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company's stock valued at $9,709,000 after acquiring an additional 41,279 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on ADI shares. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Morgan Stanley set a $214.00 target price on Analog Devices in a research report on Monday. Citigroup reduced their price target on Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a report on Friday, April 11th. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Finally, Benchmark upped their target price on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $250.43.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,809 shares of company stock worth $6,154,756. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded down $0.64 during trading hours on Friday, hitting $194.59. The stock had a trading volume of 3,206,761 shares, compared to its average volume of 3,457,828. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock's fifty day simple moving average is $203.77 and its 200 day simple moving average is $213.11. The firm has a market capitalization of $96.51 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating 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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 2.04%. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its board has initiated a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

About Analog Devices

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.