Amundi Acquires 357,610 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Amundi lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,012,212 shares of the semiconductor company’s stock after buying an additional 357,610 shares during the quarter. Amundi owned about 0.61% of Analog Devices worth $662,567,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Analog Devices in the 3rd quarter worth approximately $28,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter valued at approximately $30,000. Archer Investment Corp lifted its holdings in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. Financial Life Planners bought a new position in shares of Analog Devices during the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADI shares. Truist Financial raised their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. UBS Group upped their price target on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Price Performance

Shares of ADI opened at $225.86 on Friday. 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 company has a 50 day moving average price of $218.48 and a 200-day moving average price of $221.23. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a market capitalization of $112.02 billion, a PE ratio of 71.93, a PEG ratio of 2.85 and a beta of 1.07.

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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. Analog Devices’s revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

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.