Navellier & Associates Inc. Acquires 173 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Navellier & Associates Inc. raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,983 shares of the semiconductor company’s stock after acquiring an additional 173 shares during the quarter. Navellier & Associates Inc.’s holdings in Analog Devices were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ADI. Swedbank AB raised its holdings in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after acquiring an additional 180,870 shares during the period. Foundations Investment Advisors LLC raised its holdings in Analog Devices by 9.5% during the 3rd quarter. Foundations Investment Advisors LLC now owns 2,020 shares of the semiconductor company’s stock valued at $465,000 after acquiring an additional 176 shares during the period. Private Advisor Group LLC raised its holdings in Analog Devices by 6.4% during the 3rd quarter. Private Advisor Group LLC now owns 20,936 shares of the semiconductor company’s stock valued at $4,818,000 after acquiring an additional 1,264 shares during the period. McAdam LLC raised its holdings in Analog Devices by 11.3% during the 3rd quarter. McAdam LLC now owns 976 shares of the semiconductor company’s stock valued at $225,000 after acquiring an additional 99 shares during the period. Finally, Dakota Wealth Management raised its holdings in Analog Devices by 0.7% during the 3rd quarter. Dakota Wealth Management now owns 8,684 shares of the semiconductor company’s stock valued at $1,999,000 after acquiring an additional 57 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday. UBS Group upped their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Performance

Analog Devices stock opened at $238.91 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $215.50 and a 200-day moving average of $220.34. The firm has a market cap of $118.49 billion, a P/E ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its earnings results 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. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. Sell-side analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. 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 1.66%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 117.20%.

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.