Royal London Asset Management Ltd. Purchases 240,137 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Royal London Asset Management Ltd. increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 94.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 494,013 shares of the semiconductor company's stock after purchasing an additional 240,137 shares during the period. Royal London Asset Management Ltd. owned 0.10% of Analog Devices worth $104,958,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC raised its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the period. Financial Life Planners acquired a new stake in Analog Devices during the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. 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, Analog Devices presently has an average rating of "Moderate Buy" and an average target price of $255.41.

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Analog Devices Stock Up 3.9 %

Analog Devices stock traded up $7.94 during mid-day trading on Monday, reaching $212.34. The stock had a trading volume of 3,457,578 shares, compared to its average volume of 3,112,188. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock's 50-day simple moving average is $217.17 and its 200-day simple moving average is $219.83. The firm has a market capitalization of $105.32 billion, a PE ratio of 67.62, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during 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%. Analog Devices's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS 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 issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.86%. 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 payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company's stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $5,082,860 in the last quarter. 0.33% of the stock is currently owned by corporate 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.