Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 308,570 shares of the semiconductor company’s stock after purchasing an additional 7,446 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Analog Devices were worth $65,559,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Swedbank AB lifted its holdings in Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares in the last quarter. Impax Asset Management Group plc lifted its stake in Analog Devices by 7.7% in the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock valued at $352,728,000 after buying an additional 110,448 shares in the last quarter. United Bank boosted its holdings in Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after buying an additional 273 shares during the last quarter. Sigma Planning Corp boosted its holdings in Analog Devices by 32.5% in the 3rd quarter. Sigma Planning Corp now owns 3,121 shares of the semiconductor company’s stock worth $718,000 after buying an additional 765 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its stake in Analog Devices by 6.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 12,368 shares of the semiconductor company’s stock worth $2,847,000 after buying an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 1.4 %

NASDAQ ADI opened at $203.80 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market capitalization of $101.08 billion, a P/E ratio of 64.90, a PEG ratio of 2.85 and a beta of 1.07. The firm’s 50-day moving average is $218.22 and its two-hundred day moving average is $220.78. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.94%. Analog Devices’s payout ratio is presently 126.11%.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Wells Fargo & Company increased their target price on shares of 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 decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

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.