one8zero8 LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 9,218 shares of the semiconductor company's stock, valued at approximately $1,958,000.
Several other hedge funds have also recently bought and sold shares of ADI. Bank of Hawaii raised its holdings in shares of Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after purchasing an additional 48 shares during the last quarter. Midwest Professional Planners LTD. grew its stake in shares of Analog Devices by 0.6% in the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after buying an additional 53 shares in the last quarter. NTV Asset Management LLC grew its stake 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 buying an additional 54 shares in the last quarter. West Oak Capital LLC boosted its position in Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock worth $2,658,000 after purchasing an additional 55 shares during the period. Finally, D.A. Davidson & CO. boosted its position in Analog Devices by 0.8% during the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company's stock worth $1,568,000 after purchasing an additional 57 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Williams Trading set a $245.00 target price on shares of Analog Devices in a research report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.
Read Our Latest Stock Report on Analog Devices
Analog Devices Trading Down 1.9 %
ADI stock traded down $4.07 during trading on Thursday, hitting $205.90. The company had a trading volume of 2,775,421 shares, compared to its average volume of 3,099,102. The business has a 50-day moving average of $217.62 and a 200-day moving average of $220.15. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The stock has a market cap of $102.12 billion, a PE ratio of 65.57, a PEG ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.92%. This is an increase 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 presently 126.11%.
Analog Devices announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by insiders.
About Analog Devices
(
Free Report)
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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