Zevin Asset Management LLC Acquires 8,692 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Zevin Asset Management LLC boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,680 shares of the semiconductor company's stock after purchasing an additional 8,692 shares during the quarter. Analog Devices comprises about 3.2% of Zevin Asset Management LLC's portfolio, making the stock its 10th biggest position. Zevin Asset Management LLC's holdings in Analog Devices were worth $21,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ADI. Raymond James Financial Inc. purchased a new position in shares of Analog Devices in the 4th quarter valued at $833,386,000. Proficio Capital Partners LLC increased its holdings in shares of Analog Devices by 22,005.0% in the 4th 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 during the period. Franklin Resources Inc. grew its stake in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company's stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company's stock worth $245,953,000 after buying an additional 823,709 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

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Analog Devices Price Performance

NASDAQ:ADI traded up $0.81 during trading hours on Wednesday, hitting $209.97. 2,571,765 shares of the stock were exchanged, compared to its average volume of 3,097,798. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The firm's fifty day moving average price is $217.83 and its 200 day moving average price is $220.22. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market cap of $104.14 billion, a P/E ratio of 66.87, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business earned $1.73 EPS. Analog Devices's quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed 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 positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.89%. The ex-dividend date was Tuesday, March 4th. Analog Devices's payout ratio is 126.11%.

Analog Devices announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ADI shares. Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Lake Street Capital started coverage on Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. Benchmark boosted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.41.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company'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 $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by company insiders.

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.