Aviva PLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Aviva PLC increased its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 35.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 600,326 shares of the semiconductor company's stock after purchasing an additional 156,480 shares during the period. Aviva PLC owned 0.12% of Analog Devices worth $127,545,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADI. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter valued at $30,000. Cassady Schiller Wealth Management LLC boosted its stake in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners purchased a new position in Analog Devices during the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices in the fourth quarter valued at $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,684 shares of company stock valued at $5,591,600. Company insiders own 0.33% of the company's stock.

Analog Devices Stock Down 9.0 %

ADI stock opened at $164.60 on Friday. 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's 50 day simple moving average is $213.22 and its 200-day simple moving average is $218.36. Analog Devices, Inc. has a 12 month low of $164.14 and a 12 month high of $247.10. The firm has a market capitalization of $81.64 billion, a PE ratio of 52.42, a P/E/G ratio of 2.85 and a beta of 1.06.

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

Analog Devices declared that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 2.41%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is 126.11%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Maxim Group assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. UBS Group lifted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.41.

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.

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