Timucuan Asset Management Inc. FL Has $198.95 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Timucuan Asset Management Inc. FL lifted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 936,423 shares of the semiconductor company's stock after acquiring an additional 7,969 shares during the quarter. Analog Devices makes up 6.1% of Timucuan Asset Management Inc. FL's portfolio, making the stock its 7th biggest holding. Timucuan Asset Management Inc. FL owned 0.19% of Analog Devices worth $198,952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices during the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC lifted its position in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the last quarter. Financial Life Planners bought a new stake in shares of Analog Devices during the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at about $41,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business'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 completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The stock was 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 directly owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,684 shares of company stock valued at $5,591,600. Company insiders own 0.33% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley boosted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six equities research 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.73.

Analog Devices Price Performance

ADI traded up $0.94 during midday trading on Tuesday, hitting $179.54. The company had a trading volume of 3,033,661 shares, compared to its average volume of 3,445,329. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. 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 firm's 50-day simple moving average is $208.27 and its 200-day simple moving average is $215.55. The company has a market capitalization of $89.05 billion, a PE ratio of 57.18, a P/E/G ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. Equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a stock buyback program 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 programs are typically an indication that the company's management believes its stock is undervalued.

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 a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio is currently 126.11%.

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.