Tower Research Capital LLC TRC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 68.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,948 shares of the semiconductor company's stock after buying an additional 21,873 shares during the period. Tower Research Capital LLC TRC's holdings in Analog Devices were worth $11,462,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in Analog Devices during the 4th quarter worth approximately $1,755,958,000. Raymond James Financial Inc. bought a new position in shares of Analog Devices in the fourth quarter worth $833,386,000. Proficio Capital Partners LLC raised its position in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after buying an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. boosted its stake in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in Analog Devices in the fourth quarter worth $111,470,000. Institutional investors own 86.81% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the company. Barclays dropped their target price on Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research report on Tuesday. Benchmark upped their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial boosted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Finally, Lake Street Capital initiated 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 seventeen 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 $250.43.
Get Our Latest Research Report on ADI
Insider Transactions at Analog Devices
In other news, EVP Vivek Jain sold 12,684 shares of the company's 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 transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,809 shares of company stock valued at $6,154,756 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.
Analog Devices Stock Up 6.6 %
Shares of ADI stock traded up $12.12 during midday trading on Thursday, reaching $195.23. 5,604,077 shares of the stock were exchanged, compared to its average volume of 3,471,054. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The firm has a market cap of $96.83 billion, a PE ratio of 62.18, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The company's 50 day moving average is $204.15 and its two-hundred day moving average is $213.32. 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 issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.
Analog Devices Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. 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. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.03%. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.
Analog Devices declared that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.
Analog Devices Profile
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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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