Geode Capital Management LLC Has $2.25 Billion Stake in Analog Devices, Inc. (NASDAQ:ADI)

Geode Capital Management LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,612,183 shares of the semiconductor company’s stock after purchasing an additional 247,737 shares during the quarter. Geode Capital Management LLC owned about 2.14% of Analog Devices worth $2,248,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nemes Rush Group LLC increased its position in shares of Analog Devices by 485.0% during the fourth quarter. Nemes Rush Group LLC now owns 1,129 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 936 shares in the last quarter. StoneX Group Inc. boosted its stake in Analog Devices by 21.8% during the 4th quarter. StoneX Group Inc. now owns 12,991 shares of the semiconductor company’s stock valued at $2,760,000 after purchasing an additional 2,329 shares during the last quarter. Tradewinds LLC. bought a new stake in Analog Devices during the 4th quarter worth approximately $209,000. Cannell & Spears LLC raised its stake in shares of Analog Devices by 2.7% in the fourth quarter. Cannell & Spears LLC now owns 271,631 shares of the semiconductor company’s stock worth $57,711,000 after purchasing an additional 7,242 shares during the last quarter. Finally, Summit Financial LLC lifted its holdings in shares of Analog Devices by 1.2% in the fourth quarter. Summit Financial LLC now owns 18,208 shares of the semiconductor company’s stock valued at $3,868,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,684 shares of company stock valued at $7,746,500. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $201.67 on Tuesday. The company’s 50 day moving average is $216.16 and its 200-day moving average is $219.35. The firm has a market cap of $100.02 billion, a P/E ratio of 64.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-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.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company earned $1.73 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.96%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADI. UBS Group upped their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Morgan Stanley increased their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Six 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, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $255.41.

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.