E Fund Management Co. Ltd. Purchases 4,386 Shares of Analog Devices, Inc. (NASDAQ:ADI)

E Fund Management Co. Ltd. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 37.2% in the fourth quarter, HoldingsChannel reports. The firm owned 16,180 shares of the semiconductor company’s stock after acquiring an additional 4,386 shares during the period. E Fund Management Co. Ltd.’s holdings in Analog Devices were worth $3,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. Capital Performance Advisors LLP bought a new stake in Analog Devices during the 3rd quarter valued at $28,000. Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth $30,000. Archer Investment Corp raised its position in shares of 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 acquiring an additional 73 shares in the last quarter. Financial Life Planners bought a new position in shares of Analog Devices in the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth $41,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Analog Devices 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 transaction of $2,154,900.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADI shares. Benchmark boosted their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. UBS Group boosted their price target on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Morgan Stanley upped their target price on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 2.9 %

Shares of ADI opened at $222.77 on Friday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week 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 company has a market capitalization of $110.49 billion, a price-to-earnings ratio of 70.95, a PEG ratio of 2.85 and a beta of 1.07. The stock’s 50-day moving average price is $218.30 and its 200-day moving average price is $221.23.

Analog Devices (NASDAQ:ADI) last issued its 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. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.78%. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices Company 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.