Russell Investments Group Ltd. Has $92.15 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Russell Investments Group Ltd. boosted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,696 shares of the semiconductor company's stock after purchasing an additional 79,648 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Analog Devices worth $92,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC grew its stake in shares of Analog Devices by 63.2% during the 4th 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 period. Financial Life Planners purchased a new stake in Analog Devices during the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices in the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADI shares. Barclays lowered their price objective on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. UBS Group raised their target price on Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Oppenheimer restated an "outperform" rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Morgan Stanley raised their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $255.41.

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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 that occurred on Wednesday, March 19th. The stock was 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 in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,684 shares of company stock worth $5,591,600. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Price Performance

Shares of ADI traded down $2.12 on Friday, reaching $176.24. The stock had a trading volume of 2,822,672 shares, compared to its average volume of 3,431,049. The firm has a 50-day moving average of $209.43 and a 200 day moving average of $216.37. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $87.41 billion, a PE ratio of 56.09, a PEG ratio of 2.85 and a beta of 1.06. 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 announced its earnings results 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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.25%. 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 (DPR) is 126.11%.

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

Analog Devices Company 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.