Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by ING Groep NV

ING Groep NV boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 17.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,538 shares of the semiconductor company's stock after purchasing an additional 24,512 shares during the quarter. ING Groep NV's holdings in Analog Devices were worth $35,170,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADI. Flossbach Von Storch SE grew its stake in Analog Devices by 47.7% during the fourth quarter. Flossbach Von Storch SE now owns 471,859 shares of the semiconductor company's stock valued at $100,251,000 after acquiring an additional 152,401 shares in the last quarter. First Bank & Trust boosted its holdings in shares of Analog Devices by 6.6% during the 4th quarter. First Bank & Trust now owns 1,495 shares of the semiconductor company's stock valued at $318,000 after purchasing an additional 93 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Analog Devices by 15.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 19,110 shares of the semiconductor company's stock valued at $4,060,000 after purchasing an additional 2,626 shares during the last quarter. Advyzon Investment Management LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at about $245,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Analog Devices by 10.4% in the fourth quarter. Handelsbanken Fonder AB now owns 239,489 shares of the semiconductor company's stock worth $50,882,000 after purchasing an additional 22,554 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADI shares. Benchmark increased their price target on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Finally, UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $255.19.

Analog Devices Trading Down 2.0 %

Shares of ADI traded down $4.91 during trading hours on Friday, reaching $238.91. 6,176,402 shares of the company traded hands, compared to its average volume of 3,812,068. The stock's fifty day moving average price is $215.06 and its 200 day moving average price is $219.97. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market cap of $118.52 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 2.76 and a beta of 1.04. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations 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 period in the previous year, the company earned $1.73 EPS. Sell-side analysts forecast that Analog Devices, Inc. will post 7.11 earnings per share for the current year.

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%.

Analog Devices declared that its board has initiated a share buyback plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

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.