Impact Capital Partners LLC Acquires New Stake in Analog Devices, Inc. (NASDAQ:ADI)

Impact Capital Partners LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,583 shares of the semiconductor company's stock, valued at approximately $2,461,000. Analog Devices comprises 0.9% of Impact Capital Partners LLC's holdings, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its stake in shares of Analog Devices by 2.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 308,570 shares of the semiconductor company's stock worth $65,559,000 after purchasing an additional 7,446 shares during the last quarter. Wintrust Investments LLC raised its stake in shares of Analog Devices by 214.6% in the fourth quarter. Wintrust Investments LLC now owns 302 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 206 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Analog Devices by 12.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 122,950 shares of the semiconductor company's stock worth $26,134,000 after purchasing an additional 14,051 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Analog Devices by 0.6% in the fourth quarter. Great Lakes Advisors LLC now owns 53,031 shares of the semiconductor company's stock worth $11,267,000 after purchasing an additional 337 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth about $30,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $4.95 during trading on Friday, reaching $208.75. The stock had a trading volume of 2,613,729 shares, compared to its average volume of 3,906,637. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The business has a fifty day moving average price of $218.09 and a 200-day moving average price of $220.58. The stock has a market cap of $103.53 billion, a PE ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10.

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 (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 business's revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has approved 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 buy 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 disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's payout ratio is 126.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADI shares. UBS Group raised 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, February 20th. 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. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $255.41.

Analog Devices 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.