Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by First Pacific Advisors LP

First Pacific Advisors LP boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,110,767 shares of the semiconductor company’s stock after buying an additional 7,649 shares during the quarter. Analog Devices makes up approximately 6.4% of First Pacific Advisors LP’s portfolio, making the stock its 4th biggest position. First Pacific Advisors LP owned 0.43% of Analog Devices worth $448,454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth $833,386,000. Proficio Capital Partners LLC boosted its position in Analog Devices by 22,005.0% during the fourth 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 last quarter. Franklin Resources Inc. grew its holdings 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 acquiring an additional 1,189,940 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Analog Devices by 807.5% in 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 acquiring an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $225.86 on Monday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. 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 stock has a market cap of $112.02 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock’s fifty day simple moving average is $218.48 and its two-hundred day simple moving average is $221.17.

Analog Devices (NASDAQ:ADI) last released its quarterly 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 company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the firm earned $1.73 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio is currently 126.11%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on ADI shares. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Piper Sandler dropped their target price 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. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

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.