Nicholas Company Inc. Acquires 14,673 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Nicholas Company Inc. boosted its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 38.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,093 shares of the semiconductor company's stock after buying an additional 14,673 shares during the quarter. Nicholas Company Inc.'s holdings in Analog Devices were worth $11,280,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Swedbank AB boosted its stake in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock valued at $666,137,000 after purchasing an additional 180,870 shares during the period. United Bank lifted its holdings in shares of Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company's stock worth $1,394,000 after buying an additional 273 shares during the last quarter. Archer Investment Corp boosted its position in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 73 shares during the period. Natixis Advisors LLC grew its stake in shares of Analog Devices by 6.9% in the third quarter. Natixis Advisors LLC now owns 763,472 shares of the semiconductor company's stock worth $175,728,000 after acquiring an additional 49,612 shares during the last quarter. Finally, Maxwell Wealth Strategies Inc. bought a new position in Analog Devices during the third quarter worth $1,345,000. Institutional investors own 86.81% of the company's stock.

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Analysts Set New Price Targets

ADI has been the subject of a number of research reports. Truist Financial increased their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. UBS Group increased their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Barclays lowered their price target on 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. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. Finally, Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

Analog Devices Stock Performance

NASDAQ ADI traded down $4.07 on Thursday, hitting $205.90. 2,775,421 shares of the stock were exchanged, compared to its average volume of 3,099,103. The company has a market capitalization of $102.12 billion, a PE ratio of 65.57, a P/E/G ratio of 2.85 and a beta of 1.07. 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 business's fifty day moving average is $217.62 and its 200 day moving average is $220.15. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the firm earned $1.73 EPS. Analog Devices's quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal 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 paid a dividend of $0.99 per share. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is currently 126.11%.

Analog Devices declared that its board has approved a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now 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 is accessible through the SEC website. 0.33% of the stock is owned by 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.