Dnca Finance Has $8.86 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Dnca Finance grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 317.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,700 shares of the semiconductor company's stock after buying an additional 31,700 shares during the period. Dnca Finance's holdings in Analog Devices were worth $8,860,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ADI. Norges Bank purchased a new stake in shares of Analog Devices in the fourth quarter valued at $1,755,958,000. Raymond James Financial Inc. purchased a new position in shares of Analog Devices during the 4th quarter worth about $833,386,000. Proficio Capital Partners LLC grew its holdings in Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after purchasing an additional 3,059,349 shares during the period. Franklin Resources Inc. increased its position in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at $111,470,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Up 6.4 %

ADI stock traded up $11.68 during mid-day trading on Thursday, reaching $194.79. 2,866,241 shares of the stock traded hands, compared to its average volume of 3,460,505. The stock's fifty day moving average is $204.15 and its 200-day moving average is $213.32. The company has a market cap of $96.61 billion, a P/E ratio of 62.06, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. 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 2.03%. The ex-dividend date was Tuesday, March 4th. Analog Devices's payout ratio is currently 126.11%.

Analog Devices announced that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Benchmark boosted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Truist Financial raised their target price 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $250.43.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The shares were 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. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,809 shares of company stock valued at $6,154,756. 0.33% of the stock is owned by insiders.

Analog Devices Company 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.