Generali Asset Management SPA SGR Purchases Shares of 11,147 Analog Devices, Inc. (NASDAQ:ADI)

Generali Asset Management SPA SGR acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,147 shares of the semiconductor company's stock, valued at approximately $2,368,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter valued at $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices during the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC raised its holdings in 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 during the period. Financial Life Planners bought a new stake in shares of Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $41,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Analog Devices stock traded up $7.94 during midday trading on Monday, hitting $212.34. The company's stock had a trading volume of 3,457,578 shares, compared to its average volume of 3,112,187. The company has a 50-day moving average price of $217.17 and a two-hundred day moving average price of $219.83. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The company has a market cap of $105.32 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Remove Ads

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. 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 1.86%. Analog Devices's payout ratio is presently 126.11%.

Insider Transactions at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,000 shares of company stock valued at $5,082,860. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Lake Street Capital began coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Barclays dropped their target price on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. TD Cowen reduced 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. Morgan Stanley lifted 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, Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, Analog Devices currently has a consensus rating of "Moderate Buy" and an average target price of $255.41.

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.