BI Asset Management Fondsmaeglerselskab A S Buys Shares of 26,936 Analog Devices, Inc. (NASDAQ:ADI)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,936 shares of the semiconductor company's stock, valued at approximately $5,723,000.

A number of other institutional investors also recently modified their holdings of ADI. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices in the fourth quarter worth $30,000. Mainstream Capital Management LLC bought a new stake in Analog Devices in the fourth quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC boosted its holdings in shares of 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 buying an additional 55 shares in the last quarter. Financial Life Planners acquired a new stake in Analog Devices in the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new stake in Analog Devices in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADI. 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 report on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley set a $214.00 price target on Analog Devices in a research report on Monday. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $250.43.

Insider Buying and Selling

In other news, EVP Vivek Jain sold 12,684 shares of the business'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 sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, 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 29,809 shares of company stock valued at $6,154,756 over the last quarter. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Down 0.3 %

NASDAQ:ADI traded down $0.64 during trading hours on Friday, reaching $194.59. The company's stock had a trading volume of 3,206,435 shares, compared to its average volume of 3,457,828. The firm has a 50-day simple moving average of $203.77 and a 200-day simple moving average of $213.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The firm has a market capitalization of $96.51 billion, a price-to-earnings ratio of 61.97, 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 analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.04%. Analog Devices's payout ratio is 126.11%.

Analog Devices declared that its board has initiated a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.