Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Swiss National Bank

Swiss National Bank cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,402,575 shares of the semiconductor company’s stock after selling 70,300 shares during the period. Swiss National Bank owned 0.28% of Analog Devices worth $297,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Analog Devices in the 4th quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $30,000. Archer Investment Corp lifted its stake 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 worth $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners acquired a new position in Analog Devices during the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter valued at about $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $206.62 on Thursday. 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 $102.48 billion, a price-to-earnings ratio of 65.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The business has a 50-day moving average of $218.37 and a 200 day moving average of $220.89. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

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

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is currently 126.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Morgan Stanley boosted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Barclays cut their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

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.