LBP AM SA raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,925 shares of the semiconductor company's stock after acquiring an additional 7,522 shares during the period. LBP AM SA's holdings in Analog Devices were worth $15,069,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Analog Devices during the 4th quarter worth about $833,386,000. Proficio Capital Partners LLC increased its stake in Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. raised its stake in Analog Devices by 14.9% during 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 period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company's stock valued at $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company's stock worth $245,953,000 after purchasing an additional 823,709 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.
Analog Devices Stock Performance
NASDAQ:ADI traded down $2.52 during trading hours on Tuesday, hitting $209.16. 2,657,007 shares of the company were exchanged, compared to its average volume of 3,100,512. The company's 50 day moving average price is $217.96 and its 200-day moving average price is $220.40. The stock has a market capitalization of $103.74 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. 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 (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping 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 analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.
Analog Devices declared that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Analog Devices Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid 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 1.89%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio is currently 126.11%.
Insider Buying and Selling at Analog Devices
In other news, CEO Vincent Roche sold 10,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several brokerages recently commented on ADI. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. JPMorgan Chase & Co. boosted their price target on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Morgan Stanley increased their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. UBS Group raised 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. Finally, Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.41.
Read Our Latest Analysis on Analog Devices
About Analog Devices
(
Free Report)
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.
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