Great Lakes Advisors LLC Has $11.27 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Great Lakes Advisors LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,031 shares of the semiconductor company’s stock after buying an additional 337 shares during the period. Great Lakes Advisors LLC’s holdings in Analog Devices were worth $11,267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the 4th quarter worth about $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter worth about $30,000. Archer Investment Corp raised its holdings in Analog Devices by 101.4% during 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 acquired a new stake in Analog Devices during the 4th quarter worth about $33,000. Finally, Peterson Financial Group Inc. acquired a new stake in Analog Devices during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays reduced their price target on shares of 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 increased their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Finally, TD Cowen reduced their price target 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. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Down 1.2 %

Shares of Analog Devices stock opened at $206.62 on Thursday. The company’s fifty day simple moving average is $218.37 and its 200-day simple moving average is $220.89. The company has a market cap of $102.48 billion, a price-to-earnings ratio of 65.80, a PEG ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

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

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.