Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Lifted by TCTC Holdings LLC

TCTC Holdings LLC boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,063 shares of the semiconductor company’s stock after purchasing an additional 350 shares during the quarter. TCTC Holdings LLC’s holdings in Analog Devices were worth $11,486,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bank of Hawaii lifted its position in 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 last quarter. Midwest Professional Planners LTD. increased its stake in Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after buying an additional 53 shares during the period. NTV Asset Management LLC increased 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 valued at $438,000 after buying an additional 54 shares during the period. West Oak Capital LLC increased its stake in Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after buying an additional 55 shares during the period. Finally, D.A. Davidson & CO. increased its stake in Analog Devices by 0.8% during the 3rd quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock valued at $1,568,000 after buying an additional 57 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ADI. Truist Financial raised their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. 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 note on Wednesday, November 27th. Finally, TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Price Performance

NASDAQ ADI opened at $208.75 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $103.53 billion, a PE ratio of 66.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a 50 day moving average price of $218.09 and a two-hundred day moving average price of $220.53. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping 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 business had revenue of $2.42 billion during 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. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices 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.