Invesco Ltd. Has $1.98 Billion Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Invesco Ltd. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,300,799 shares of the semiconductor company's stock after selling 865,536 shares during the period. Analog Devices makes up about 0.4% of Invesco Ltd.'s portfolio, making the stock its 29th biggest holding. Invesco Ltd. owned approximately 1.87% of Analog Devices worth $1,976,048,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the fourth quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC increased its stake in 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 acquiring an additional 55 shares during the period. Financial Life Planners acquired a new position in Analog Devices in the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at $41,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 0.4 %

Shares of NASDAQ ADI traded up $0.80 during trading on Friday, reaching $179.16. The company had a trading volume of 6,528,835 shares, compared to its average volume of 3,444,715. The stock has a market cap of $88.86 billion, a P/E ratio of 57.06, a PEG ratio of 2.85 and a beta of 1.06. The company's fifty day moving average price is $208.90 and its 200-day moving average price is $216.04. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

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

Analog Devices announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given 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 yield of 2.21%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is 126.11%.

Insiders Place Their Bets

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,684 shares of company stock worth $5,591,600. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley raised their price target on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Truist Financial boosted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Finally, Oppenheimer restated an "outperform" rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $254.73.

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.