Marshall Wace LLP Invests $50.99 Million in Analog Devices, Inc. (NASDAQ:ADI)

Marshall Wace LLP bought a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 240,000 shares of the semiconductor company's stock, valued at approximately $50,990,000.

Several other institutional investors have also recently made changes to their positions in ADI. Mainstream Capital Management LLC acquired a new position in Analog Devices during the fourth quarter worth $30,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices in the 4th quarter valued at $30,000. Cassady Schiller Wealth Management LLC boosted its stake in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the last quarter. Financial Life Planners purchased a new position in Analog Devices during the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADI shares. Wells Fargo & Company raised their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. UBS Group increased their price objective on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Barclays lowered their price objective on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $250.43.

Analog Devices Price Performance

NASDAQ:ADI traded up $5.84 during trading hours on Wednesday, reaching $184.34. 1,493,268 shares of the company traded hands, compared to its average volume of 3,454,385. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. The stock has a market cap of $91.43 billion, a P/E ratio of 58.71, a P/E/G ratio of 2.85 and a beta of 1.06. The firm's 50-day moving average is $204.78 and its 200-day moving average is $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.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $1.73 EPS. Analog Devices's revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 2.15%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its board has initiated 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred on 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 owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,809 shares of company stock worth $6,154,756 in the last quarter. 0.33% of the stock is owned by insiders.

About Analog Devices

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.