GLOBALT Investments LLC GA Has $6.55 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

GLOBALT Investments LLC GA cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,804 shares of the semiconductor company's stock after selling 1,290 shares during the period. GLOBALT Investments LLC GA's holdings in Analog Devices were worth $6,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Bank of Hawaii grew its position in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock worth $240,000 after acquiring an additional 48 shares in the last quarter. Midwest Professional Planners LTD. boosted its holdings in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after buying an additional 53 shares during the period. NTV Asset Management LLC boosted its holdings in shares of Analog Devices by 2.7% during the 4th 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 during the period. West Oak Capital LLC boosted its holdings in shares of Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after buying an additional 55 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings in shares of Analog Devices by 0.8% during the 3rd quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company's stock worth $1,568,000 after buying an additional 57 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

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Analog Devices Price Performance

NASDAQ:ADI traded down $4.07 during mid-day trading on Thursday, reaching $205.90. 2,775,421 shares of the company were exchanged, compared to its average volume of 3,099,102. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a fifty day moving average of $217.62 and a 200 day moving average of $220.15. 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 has a market cap of $102.12 billion, a PE ratio of 65.57, a PEG ratio of 2.85 and a beta of 1.07.

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

Analog Devices announced that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business 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 is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.92%. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADI shares. Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley upped their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $255.41.

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.