Mar Vista Investment Partners LLC Acquires 13,861 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Mar Vista Investment Partners LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,838 shares of the semiconductor company's stock after acquiring an additional 13,861 shares during the period. Analog Devices comprises 2.7% of Mar Vista Investment Partners LLC's investment portfolio, making the stock its 20th biggest holding. Mar Vista Investment Partners LLC's holdings in Analog Devices were worth $39,058,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ADI. Mainstream Capital Management LLC bought a new stake in Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC boosted its holdings in shares of Analog Devices by 63.2% in the fourth 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 purchased a new position in shares of Analog Devices in the fourth 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. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of ADI opened at $178.50 on Wednesday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The business has a fifty day moving average of $204.78 and a 200 day moving average of $213.53. 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 firm has a market capitalization of $88.53 billion, a P/E ratio of 56.85, a PEG ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly 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. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.22%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. 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 shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ADI shares. UBS Group lifted 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, February 20th. Citigroup lowered their price target on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wells Fargo & Company increased their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $250.43.

Insider Buying and Selling

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,809 shares of company stock valued at $6,154,756. 0.33% of the stock is owned by company insiders.

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.

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