Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 46.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,056 shares of the semiconductor company's stock after purchasing an additional 14,879 shares during the quarter. Mizuho Securities USA LLC's holdings in Analog Devices were worth $9,998,000 at the end of the most recent reporting period.

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

Analog Devices Price Performance

Shares of NASDAQ:ADI traded down $3.05 during trading on Wednesday, hitting $210.53. 2,452,928 shares of the company's stock were exchanged, compared to its average volume of 3,112,567. The company has a market cap of $104.42 billion, a price-to-earnings ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07. The business's 50-day simple moving average is $217.13 and its 200 day simple moving average is $219.78. 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.

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Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for 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 firm's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.88%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADI. Piper Sandler lowered their price objective on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Barclays cut their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their target price on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average price target of $255.41.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated 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 completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is currently owned by company 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.