World Investment Advisors Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

World Investment Advisors raised its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,336 shares of the semiconductor company's stock after acquiring an additional 5,156 shares during the quarter. World Investment Advisors' holdings in Analog Devices were worth $10,057,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADI. Nicolet Advisory Services LLC increased its stake in shares of Analog Devices by 2.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 5,524 shares of the semiconductor company's stock worth $1,173,000 after purchasing an additional 142 shares in the last quarter. OneAscent Financial Services LLC bought a new stake in Analog Devices during the fourth quarter valued at about $400,000. Huntington National Bank lifted its position in shares of Analog Devices by 1.4% in the fourth quarter. Huntington National Bank now owns 477,683 shares of the semiconductor company's stock valued at $101,489,000 after acquiring an additional 6,525 shares in the last quarter. RFG Bristol Wealth Advisors LLC purchased a new position in Analog Devices in the 4th quarter worth approximately $212,000. Finally, Potomac Fund Management Inc. ADV purchased a new stake in Analog Devices during the 4th quarter valued at approximately $1,063,000. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,684 shares of company stock worth $5,591,600 over the last quarter. 0.33% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADI. Benchmark upped their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They set a "buy" rating for the company. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $255.41.

Analog Devices Stock Performance

NASDAQ:ADI traded up $2.61 during mid-day trading on Tuesday, hitting $173.95. The company's stock had a trading volume of 1,990,491 shares, compared to its average volume of 3,361,520. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. 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 stock has a market cap of $86.28 billion, a price-to-earnings ratio of 55.70, a PEG ratio of 2.85 and a beta of 1.06. The business's fifty day moving average is $212.34 and its two-hundred day moving average is $217.84.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company posted $1.73 EPS. The company's revenue for the quarter was down 3.6% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors 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 dividend of $0.99 per share. This is a boost 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 annualized dividend and a yield of 2.28%. Analog Devices's dividend payout ratio (DPR) is 126.11%.

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.