StoneX Group Inc. Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

StoneX Group Inc. lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,991 shares of the semiconductor company's stock after purchasing an additional 2,329 shares during the period. StoneX Group Inc.'s holdings in Analog Devices were worth $2,760,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter valued at about $1,755,958,000. Raymond James Financial Inc. acquired a new stake in Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC increased its holdings in shares of Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after acquiring an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. Finally, Madison Investment Advisors LLC bought a new position in shares of Analog Devices in the 4th quarter worth $111,470,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded down $16.28 during trading on Friday, hitting $164.60. 9,622,216 shares of the company were exchanged, compared to its average volume of 3,342,913. Analog Devices, Inc. has a 52-week low of $164.14 and a 52-week high of $247.10. The stock has a 50 day moving average of $213.22 and a 200 day moving average of $218.31. 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 company has a market cap of $81.64 billion, a PE ratio of 52.42, a P/E/G ratio of 2.85 and a beta of 1.06.

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Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The firm's quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 2.41%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is 126.11%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 owns 64,918 shares of the company's stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly 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 26,684 shares of company stock worth $5,591,600 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADI. 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 report on Friday, January 17th. Truist Financial raised their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. UBS Group increased their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Lake Street Capital assumed coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $255.41.

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.