Vanguard Group Inc. Acquires 413,084 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Vanguard Group Inc. boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 49,105,529 shares of the semiconductor company's stock after buying an additional 413,084 shares during the period. Vanguard Group Inc. owned approximately 9.90% of Analog Devices worth $10,432,961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the fourth quarter valued at $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC boosted its holdings in 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 purchasing an additional 55 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices during the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the 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 transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,684 shares of company stock valued at $7,746,500 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

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Analog Devices Stock Down 0.8 %

Shares of Analog Devices stock traded down $1.59 on Thursday, hitting $208.94. 2,884,763 shares of the company traded hands, compared to its average volume of 3,114,507. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. 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 company has a market cap of $103.63 billion, a PE ratio of 66.54, a PEG ratio of 2.85 and a beta of 1.07. The company has a 50-day moving average price of $216.86 and a 200 day moving average price of $219.64.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its 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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

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 $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.90%. Analog Devices's payout ratio is 126.11%.

Analysts Set New Price Targets

Several analysts recently weighed in on ADI shares. UBS Group lifted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.