Harvest Fund Management Co. Ltd Has $5.78 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Harvest Fund Management Co. Ltd lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 27.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,208 shares of the semiconductor company's stock after purchasing an additional 6,338 shares during the period. Harvest Fund Management Co. Ltd's holdings in Analog Devices were worth $5,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Hawaii boosted its holdings in shares of Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after buying an additional 48 shares during the last quarter. Midwest Professional Planners LTD. raised its position in 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. NTV Asset Management LLC lifted its stake in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 54 shares during the last quarter. West Oak Capital LLC grew its position in shares of Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after acquiring an additional 55 shares during the period. Finally, Cassady Schiller Wealth Management LLC increased its stake in shares of 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 purchasing an additional 55 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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. Insiders sold a total of 24,000 shares of company stock worth $5,082,860 in the last ninety days. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADI. Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Truist Financial increased their price target on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. UBS Group raised their price target on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $255.41.

Analog Devices Price Performance

ADI traded down $1.50 on Friday, hitting $204.40. 5,070,173 shares of the stock were exchanged, compared to its average volume of 3,110,802. The firm has a market capitalization of $101.38 billion, a price-to-earnings ratio of 65.10, 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. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The business has a 50-day moving average of $217.17 and a two-hundred day moving average of $219.84.

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

Analog Devices declared that its board has approved a stock repurchase 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 usually a sign that the company's management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's 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.