ING Groep NV Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

ING Groep NV lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,538 shares of the semiconductor company’s stock after buying an additional 24,512 shares during the period. ING Groep NV’s holdings in Analog Devices were worth $35,170,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the 3rd quarter valued at about $28,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners bought a new position in Analog Devices during the 4th quarter worth approximately $33,000. Kestra Investment Management LLC bought a new position in Analog Devices during the 4th quarter worth approximately $41,000. Finally, Peterson Financial Group Inc. bought a new position in Analog Devices during the 3rd quarter worth approximately $43,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADI shares. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley reduced their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Benchmark began coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating and a $245.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.52.

Analog Devices Stock Up 9.7 %

Shares of NASDAQ:ADI opened at $241.66 on Thursday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The stock has a fifty day simple moving average of $214.54 and a two-hundred day simple moving average of $219.80. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $119.89 billion, a price-to-earnings ratio of 73.45, a PEG ratio of 2.46 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. On average, research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 represents a $3.96 annualized dividend and a dividend yield of 1.64%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 111.85%.

Analog Devices declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s 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 completion of the sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate 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.