New York Life Investment Management LLC Acquires 105 Shares of Analog Devices, Inc. (NASDAQ:ADI)

New York Life Investment Management LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,908 shares of the semiconductor company’s stock after acquiring an additional 105 shares during the period. New York Life Investment Management LLC’s holdings in Analog Devices were worth $15,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Harfst & Associates Inc. raised its holdings in shares of Analog Devices by 1.0% during the fourth quarter. Harfst & Associates Inc. now owns 12,337 shares of the semiconductor company’s stock valued at $2,621,000 after purchasing an additional 121 shares during the period. Heritage Investors Management Corp grew its stake in shares of Analog Devices by 6.2% in the 4th quarter. Heritage Investors Management Corp now owns 5,401 shares of the semiconductor company’s stock valued at $1,147,000 after buying an additional 313 shares during the period. Whipplewood Advisors LLC bought a new stake in Analog Devices in the 4th quarter valued at about $65,000. Simmons Bank raised its stake in Analog Devices by 1.8% during the 4th quarter. Simmons Bank now owns 4,102 shares of the semiconductor company’s stock worth $872,000 after buying an additional 71 shares during the period. Finally, Sabal Trust CO boosted its holdings in Analog Devices by 26.5% in the fourth quarter. Sabal Trust CO now owns 12,084 shares of the semiconductor company’s stock worth $2,567,000 after acquiring an additional 2,529 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADI. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Benchmark raised 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. Morgan Stanley boosted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $233.73 on Thursday. The company has a market capitalization of $115.92 billion, a P/E ratio of 74.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. The company’s 50-day moving average is $216.87 and its 200 day moving average is $220.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.