Mn Services Vermogensbeheer B.V. Buys 4,500 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Mn Services Vermogensbeheer B.V. raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,993 shares of the semiconductor company’s stock after acquiring an additional 4,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Analog Devices were worth $41,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. Harfst & Associates Inc. boosted its holdings in shares of Analog Devices by 1.0% during the 4th quarter. Harfst & Associates Inc. now owns 12,337 shares of the semiconductor company’s stock worth $2,621,000 after buying an additional 121 shares in the last quarter. Heritage Investors Management Corp boosted its holdings in shares of Analog Devices by 6.2% during the 4th quarter. Heritage Investors Management Corp now owns 5,401 shares of the semiconductor company’s stock worth $1,147,000 after buying an additional 313 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Analog Devices in the 4th quarter worth $65,000. Simmons Bank lifted its holdings in shares of Analog Devices by 1.8% in the 4th quarter. Simmons Bank now owns 4,102 shares of the semiconductor company’s stock worth $872,000 after purchasing an additional 71 shares in the last quarter. Finally, Sabal Trust CO lifted its holdings in shares of Analog Devices by 26.5% in the 4th quarter. Sabal Trust CO now owns 12,084 shares of the semiconductor company’s stock worth $2,567,000 after purchasing an additional 2,529 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 0.7 %

ADI opened at $233.73 on Thursday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The business has a 50 day moving average of $216.87 and a 200-day moving average of $220.90. The stock has a market capitalization of $115.92 billion, a price-to-earnings ratio of 74.44, a P/E/G ratio of 2.85 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly 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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $1.73 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.69%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADI shares. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Morgan Stanley increased their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Barclays cut their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.