12,699 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,699 shares of the semiconductor company’s stock, valued at approximately $2,606,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth $833,386,000. Proficio Capital Partners LLC lifted its stake in Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADI has been the subject of a number of research reports. Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. 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 report on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Finally, TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Trading Up 1.4 %

Shares of NASDAQ ADI opened at $225.86 on Friday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $218.48 and a two-hundred day simple moving average of $221.21. The firm has a market cap of $112.02 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. Analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.75%. Analog Devices’s payout ratio is 126.11%.

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

Insiders Place Their Bets

In other Analog Devices 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 transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 0.33% of the stock is owned by company 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.