Kovitz Investment Group Partners LLC Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Kovitz Investment Group Partners LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 301.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,581,157 shares of the semiconductor company's stock after buying an additional 1,186,981 shares during the period. Analog Devices comprises about 1.1% of Kovitz Investment Group Partners LLC's portfolio, making the stock its 28th largest holding. Kovitz Investment Group Partners LLC owned 0.32% of Analog Devices worth $335,933,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Analog Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after purchasing an additional 247,737 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Norges Bank purchased a new stake in Analog Devices during the 4th quarter worth approximately $1,755,958,000. Finally, FMR LLC raised its holdings in shares of Analog Devices by 0.8% during the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after acquiring an additional 61,390 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Trading Down 0.4 %

Shares of NASDAQ:ADI traded down $0.87 during midday trading on Monday, reaching $193.72. 3,400,777 shares of the company's stock were exchanged, compared to its average volume of 3,459,521. The firm's 50 day simple moving average is $203.25 and its two-hundred day simple moving average is $212.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market cap of $96.08 billion, a price-to-earnings ratio of 61.69, a P/E/G ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company's quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.04%. The ex-dividend date was Tuesday, March 4th. Analog Devices's payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group boosted their price target on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Barclays decreased their price objective on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Stifel Nicolaus decreased their price objective on Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley set a $214.00 price objective on Analog Devices in a report on Monday, April 21st. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $250.43.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value 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. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock valued at $6,154,756 in the last three months. 0.33% of the stock is owned by corporate 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.