Fmr LLC Purchases 61,390 Shares of Analog Devices, Inc. (NASDAQ:ADI)

FMR LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,450,018 shares of the semiconductor company's stock after acquiring an additional 61,390 shares during the quarter. FMR LLC owned about 1.50% of Analog Devices worth $1,582,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADI. Midwest Professional Planners LTD. raised its holdings in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after acquiring an additional 53 shares in the last quarter. Portland Global Advisors LLC boosted its holdings in Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after purchasing an additional 53 shares during the period. NTV Asset Management LLC grew its position in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after buying an additional 54 shares in the last quarter. West Oak Capital LLC increased its position in shares of Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after purchasing an additional 55 shares during the period. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the 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 transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock valued at $5,591,600 over the last quarter. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ADI. UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Truist Financial increased 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. Lake Street Capital assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating for the company. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 target price on shares of Analog Devices in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus target price of $254.73.

Analog Devices Trading Up 0.4 %

Shares of NASDAQ:ADI traded up $0.80 during mid-day trading on Friday, reaching $179.16. 6,528,835 shares of the company's stock were exchanged, compared to its average volume of 3,444,715. The firm has a market capitalization of $88.86 billion, a price-to-earnings ratio of 57.06, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The business's fifty day moving average price is $208.90 and its 200-day moving average price is $216.04. 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 (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The business's revenue was down 3.6% on a year-over-year basis. On average, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given 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 2.21%. Analog Devices's dividend payout ratio is 126.11%.

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.