MetLife Investment Management LLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

MetLife Investment Management LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,395 shares of the semiconductor company's stock after buying an additional 2,375 shares during the period. MetLife Investment Management LLC's holdings in Analog Devices were worth $27,916,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Midwest Professional Planners LTD. raised its holdings in Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after acquiring an additional 53 shares during the last quarter. Portland Global Advisors LLC grew its position in shares of Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock valued at $853,000 after purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC increased its holdings in shares of Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after purchasing an additional 54 shares during the last quarter. West Oak Capital LLC increased its holdings in shares of Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after purchasing an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its position 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 in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ADI shares. JPMorgan Chase & Co. raised their target price on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. 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. Truist Financial lifted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Finally, UBS Group lifted their price target 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. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $250.43.

Analog Devices Stock Up 6.6 %

Shares of NASDAQ ADI traded up $12.12 during midday trading on Thursday, hitting $195.23. The company's stock had a trading volume of 5,604,077 shares, compared to its average volume of 3,471,054. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The business's fifty day simple moving average is $204.15 and its two-hundred day simple moving average is $213.32. The firm has a market capitalization of $96.83 billion, a price-to-earnings ratio of 62.18, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. 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 posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current 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 given a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

Analog Devices announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,809 shares of company stock worth $6,154,756. 0.33% of the stock is currently 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.