Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,489 shares of the semiconductor company's stock after purchasing an additional 22,554 shares during the quarter. Handelsbanken Fonder AB's holdings in Analog Devices were worth $50,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Bank of Hawaii grew its holdings in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after purchasing an additional 48 shares during the period. MONECO Advisors LLC grew its holdings in Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company's stock valued at $419,000 after purchasing an additional 50 shares during the period. DT Investment Partners LLC grew its holdings in Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company's stock valued at $1,587,000 after purchasing an additional 51 shares during the period. Amarillo National Bank boosted its stake in shares of Analog Devices by 3.6% in the third quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company's stock worth $360,000 after acquiring an additional 54 shares during the period. Finally, NTV Asset Management LLC boosted its stake in shares of Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after acquiring an additional 54 shares during the period. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.

Analog Devices Trading Down 2.0 %

Shares of ADI traded down $4.91 during mid-day trading on Friday, reaching $238.91. 6,176,402 shares of the company's stock traded hands, compared to its average volume of 3,812,068. The stock has a market cap of $118.52 billion, a P/E ratio of 76.09, a P/E/G ratio of 2.76 and a beta of 1.04. The stock's 50-day moving average is $215.06 and its two-hundred day moving average is $219.97. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its 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 analysts' expectations of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The company's quarterly revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.11 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase 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 disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.66%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is 126.11%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADI. Truist Financial upped their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday. UBS Group upped their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday. Wells Fargo & Company upped their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday. Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Thursday. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $255.19.

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.