Fiduciary Group LLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Fiduciary Group LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 30.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,364 shares of the semiconductor company’s stock after purchasing an additional 1,248 shares during the quarter. Fiduciary Group LLC’s holdings in Analog Devices were worth $1,140,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Analog Devices in the 4th quarter worth $833,386,000. Proficio Capital Partners LLC lifted 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 last quarter. Franklin Resources Inc. grew its position in Analog Devices by 14.9% in the third 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Analog Devices by 807.5% during the third 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 during 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 last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on ADI shares. Morgan Stanley increased their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Barclays cut their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Price Performance

NASDAQ ADI opened at $205.90 on Friday. The company has a market cap of $102.12 billion, a PE ratio of 65.57, a P/E/G ratio of 2.85 and a beta of 1.07. The firm’s 50 day moving average price is $217.33 and its 200-day moving average price is $220.05. 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 52-week low of $182.57 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. 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 earned $1.73 EPS. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. 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 1.92%. Analog Devices’s payout ratio is currently 126.11%.

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

Insider Buying and Selling at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were 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 owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,000 shares of company stock valued at $5,082,860. 0.33% of the stock is currently owned by insiders.

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.