Great Lakes Advisors LLC Acquires 337 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Great Lakes Advisors LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,031 shares of the semiconductor company’s stock after buying an additional 337 shares during the quarter. Great Lakes Advisors LLC’s holdings in Analog Devices were worth $11,267,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the fourth quarter valued at about $30,000. Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter valued at about $30,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners bought a new position in shares of Analog Devices in the fourth quarter valued at about $33,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Analog Devices in the third quarter valued at about $43,000. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ADI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a research report on Friday, February 14th. Wells Fargo & Company lifted their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Finally, Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Six equities research 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 an average price target of $255.41.

Analog Devices Price Performance

Shares of ADI opened at $206.62 on Thursday. 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 50 day simple moving average of $218.37 and a 200 day simple moving average of $220.89. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The firm has a market capitalization of $102.48 billion, a PE ratio of 65.80, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This is a boost 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 annualized dividend and a yield of 1.92%. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s 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 sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

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.