Handelsbanken Fonder AB Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Handelsbanken Fonder AB boosted its stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 239,489 shares of the semiconductor company’s stock after acquiring an additional 22,554 shares during the period. Handelsbanken Fonder AB’s holdings in Analog Devices were worth $50,882,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Bank of Hawaii boosted its position in shares of Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares during the period. MONECO Advisors LLC boosted its holdings in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after acquiring an additional 50 shares during the period. DT Investment Partners LLC grew its position in shares of Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after acquiring an additional 51 shares during the last quarter. Amarillo National Bank increased its holdings in shares of Analog Devices by 3.6% in the 3rd quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock valued at $360,000 after acquiring an additional 54 shares during the period. Finally, NTV Asset Management LLC boosted its stake in Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Barclays decreased their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Morgan Stanley cut their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.52.

Get Our Latest Analysis on ADI

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $241.66 on Thursday. The stock’s fifty day moving average is $214.54 and its 200-day moving average is $219.80. The firm has a market capitalization of $119.89 billion, a price-to-earnings ratio of 73.45, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADIGet Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.64%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analog Devices Profile

(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.

See Also

Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.