Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 431,719 shares of the semiconductor company's stock after purchasing an additional 18,212 shares during the quarter. Rockefeller Capital Management L.P. owned 0.09% of Analog Devices worth $91,703,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts recently weighed in on ADI shares. Truist Financial boosted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark boosted their price target on Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Lake Street Capital started coverage on Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.73.

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Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,684 shares of company stock valued at $5,591,600 in the last three months. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Down 0.3 %

Shares of NASDAQ ADI traded down $0.56 during trading on Monday, reaching $178.60. 3,911,620 shares of the stock were exchanged, compared to its average volume of 3,447,006. The company has a market capitalization of $88.58 billion, a price-to-earnings ratio of 56.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The business's 50-day moving average price is $208.27 and its 200 day moving average price is $215.55. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping 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 firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The firm's revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.22%. Analog Devices's payout ratio is currently 126.11%.

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

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.