Treasurer of the State of North Carolina raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,169 shares of the semiconductor company's stock after buying an additional 1,964 shares during the period. Treasurer of the State of North Carolina owned 0.05% of Analog Devices worth $55,488,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices in the fourth quarter valued at about $30,000. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC increased its position in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Financial Life Planners bought a new position in Analog Devices in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the fourth quarter worth $41,000. 86.81% of the stock is owned by institutional investors.
Insider Activity
In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated 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 approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,684 shares of company stock worth $5,591,600. Company insiders own 0.33% of the company's stock.
Analyst Ratings Changes
ADI has been the topic of a number of recent research reports. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Benchmark boosted their price objective 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. Wells Fargo & Company raised their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Maxim Group started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $254.73.
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Analog Devices Price Performance
ADI traded up $0.12 during trading on Tuesday, hitting $178.72. 1,162,592 shares of the stock traded hands, compared to its average volume of 3,438,573. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The business has a 50 day moving average price of $208.27 and a 200 day moving average price of $215.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market cap of $88.64 billion, a price-to-earnings ratio of 56.92, a PEG ratio of 2.85 and a beta of 1.06.
Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the business posted $1.73 EPS. Analog Devices's revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.
Analog Devices Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a positive change 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 dividend yield of 2.22%. Analog Devices's dividend payout ratio is presently 126.11%.
Analog Devices Company Profile
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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.
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