Borer Denton & Associates Inc. Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Borer Denton & Associates Inc. raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.8% in the fourth quarter, HoldingsChannel reports. The fund owned 12,145 shares of the semiconductor company’s stock after purchasing an additional 334 shares during the period. Analog Devices accounts for approximately 0.9% of Borer Denton & Associates Inc.’s investment portfolio, making the stock its 26th largest holding. Borer Denton & Associates Inc.’s holdings in Analog Devices were worth $2,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADI. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter valued at $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC raised its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners purchased a new position in Analog Devices during the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research analyst reports. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Lake Street Capital assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Up 0.6 %

Shares of NASDAQ ADI opened at $213.58 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm’s 50-day moving average is $217.13 and its two-hundred day moving average is $219.78. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a market capitalization of $105.93 billion, a PE ratio of 68.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share. Equities analysts anticipate 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 paid a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.85%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices announced that its Board of Directors has initiated a stock 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 purchase 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.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $5,082,860 in the last quarter. 0.33% of the stock is currently owned by company insiders.

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.