AGF Management Ltd. raised its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 499,683 shares of the semiconductor company's stock after acquiring an additional 68,727 shares during the quarter. AGF Management Ltd. owned about 0.10% of Analog Devices worth $106,163,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of ADI. Capital Performance Advisors LLP bought a new position in Analog Devices during the third quarter worth $28,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at $30,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners acquired a new position in Analog Devices during the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices during the 4th quarter worth about $41,000. Institutional investors own 86.81% of the company's stock.
Analog Devices Stock Performance
Shares of ADI stock opened at $216.26 on Tuesday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The business's fifty day simple moving average is $218.56 and its 200-day simple moving average is $221.13. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market cap of $107.26 billion, a PE ratio of 68.87, a PEG ratio of 2.85 and a beta of 1.07.
Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.73 earnings per share. Analysts expect 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 will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is currently 126.11%.
Analog Devices announced that its board has authorized a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire 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 shares are undervalued.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on ADI. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Benchmark increased 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. Maxim Group started coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating on the stock. Wells Fargo & Company raised their price target on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.
Check Out Our Latest Report on Analog Devices
Insider Buying and Selling at Analog Devices
In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.
About Analog Devices
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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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