Fiduciary Group LLC Buys 1,248 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fiduciary Group LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 30.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,364 shares of the semiconductor company's stock after purchasing an additional 1,248 shares during the period. Fiduciary Group LLC's holdings in Analog Devices were worth $1,140,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ADI. Swedbank AB lifted its stake in shares of Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock worth $666,137,000 after buying an additional 180,870 shares during the last quarter. United Bank lifted its position in Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company's stock worth $1,394,000 after acquiring an additional 273 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Analog Devices by 2.4% during the third quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company's stock worth $5,832,000 after acquiring an additional 582 shares during the period. Quest Partners LLC acquired a new position in shares of Analog Devices in the third quarter valued at approximately $210,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Analog Devices by 3.9% in the third quarter. PNC Financial Services Group Inc. now owns 149,813 shares of the semiconductor company's stock valued at $34,482,000 after purchasing an additional 5,562 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADI shares. UBS Group boosted their price target on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Barclays reduced their target price on shares of 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. Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley boosted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Benchmark increased their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Six research 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.com, Analog Devices currently has a consensus rating of "Moderate Buy" and an average price target of $255.41.

Analog Devices Price Performance

Shares of NASDAQ ADI traded up $1.24 during midday trading on Tuesday, reaching $213.58. 2,549,789 shares of the company were exchanged, compared to its average volume of 3,111,066. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The stock has a market cap of $105.93 billion, a P/E ratio of 68.02, a PEG ratio of 2.85 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average price is $217.16 and its 200-day moving average price is $219.78.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm 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%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.85%. This is a positive change 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 presently 126.11%.

Analog Devices announced that its board has approved a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,000 shares of company stock worth $5,082,860. 0.33% of the stock is currently owned by company 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.