Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by National Pension Service

National Pension Service lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,039,475 shares of the semiconductor company’s stock after purchasing an additional 8,716 shares during the period. National Pension Service owned about 0.21% of Analog Devices worth $220,847,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ADI. Charles Schwab Investment Management Inc. raised its position in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after buying an additional 39,186 shares during the period. Swiss National Bank increased its holdings in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after purchasing an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in shares of Analog Devices in the 4th quarter valued at approximately $460,000. Finally, Summit Global Investments bought a new position in Analog Devices during the 3rd quarter valued at $867,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.7 %

Shares of Analog Devices stock opened at $235.30 on Wednesday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a 50-day simple moving average of $216.35 and a two-hundred day simple moving average of $220.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock has a market capitalization of $116.70 billion, a PE ratio of 74.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $1.73 EPS. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm 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 dividend of $0.99 per share. The ex-dividend date of this dividend is 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 dividend yield of 1.68%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Benchmark raised their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group boosted 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. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

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.