Corient Private Wealth LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 62.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 966,530 shares of the semiconductor company's stock after purchasing an additional 370,933 shares during the quarter. Corient Private Wealth LLC owned 0.19% of Analog Devices worth $204,982,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Mainstream Capital Management LLC purchased a new position in Analog Devices in the fourth quarter worth $30,000. Archer Investment Corp raised its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Financial Life Planners purchased a new position in Analog Devices in the fourth quarter worth $33,000. Finally, Peterson Financial Group Inc. purchased a new position in Analog Devices in the third quarter worth $43,000. 86.81% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ADI has been the subject of several research analyst reports. Barclays cut their price objective on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Benchmark increased their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Truist Financial increased their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Morgan Stanley increased their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $255.41.
Read Our Latest Stock Analysis on Analog Devices
Insiders Place Their Bets
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.
Analog Devices Trading Down 1.9 %
NASDAQ:ADI traded down $4.07 during mid-day trading on Thursday, reaching $205.90. The company's stock had a trading volume of 2,775,421 shares, compared to its average volume of 3,099,103. The company's fifty day simple moving average is $217.62 and its two-hundred day simple moving average is $220.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The stock has a market cap of $102.12 billion, a P/E ratio of 65.57, a P/E/G ratio of 2.85 and a beta of 1.07.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results 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 return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $1.73 EPS. The firm's quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.
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 paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.92%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.
Analog Devices declared that its board has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
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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