Guggenheim Capital LLC Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Guggenheim Capital LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,186 shares of the semiconductor company's stock after selling 2,692 shares during the quarter. Guggenheim Capital LLC's holdings in Analog Devices were worth $46,143,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADI. Vanguard Group Inc. boosted its stake in Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock worth $10,432,961,000 after buying an additional 413,084 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock worth $2,248,971,000 after acquiring an additional 247,737 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. Norges Bank bought a new stake in shares of Analog Devices in the fourth quarter worth approximately $1,755,958,000. Finally, FMR LLC grew its stake in shares of Analog Devices by 0.8% during the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after purchasing an additional 61,390 shares during the period. 86.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ADI. Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Stifel Nicolaus dropped their price target on Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Truist Financial lifted their price objective 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. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $254.05.

Analog Devices Stock Up 0.2 %

Shares of NASDAQ:ADI traded up $0.34 during midday trading on Friday, hitting $176.27. The stock had a trading volume of 3,341,234 shares, compared to its average volume of 3,459,664. The business's 50-day simple moving average is $206.55 and its 200-day simple moving average is $214.66. The company has a market cap of $87.43 billion, a P/E ratio of 56.14, a PEG 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, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company posted $1.73 earnings per share. The business's revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.25%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The stock was 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 directly owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock valued at $6,154,756 in the last three months. Company insiders own 0.33% of the company's stock.

Analog Devices 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.