EFG Asset Management North America Corp. Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

EFG Asset Management North America Corp. boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.0% during the 4th quarter, Holdings Channel reports. The firm owned 14,162 shares of the semiconductor company’s stock after buying an additional 1,170 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Analog Devices were worth $3,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Taikang Asset Management Hong Kong Co Ltd lifted its position in shares of Analog Devices by 35.6% in the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 12,200 shares of the semiconductor company’s stock worth $2,592,000 after buying an additional 3,200 shares in the last quarter. ICW Investment Advisors LLC raised its holdings in shares of Analog Devices by 11.0% during the 4th quarter. ICW Investment Advisors LLC now owns 2,055 shares of the semiconductor company’s stock worth $437,000 after acquiring an additional 203 shares in the last quarter. Twin City Private Wealth LLC raised its holdings in shares of Analog Devices by 2.8% during the 4th quarter. Twin City Private Wealth LLC now owns 3,912 shares of the semiconductor company’s stock worth $831,000 after acquiring an additional 107 shares in the last quarter. Dillon & Associates Inc. boosted its position in shares of Analog Devices by 10.5% during the 4th quarter. Dillon & Associates Inc. now owns 5,840 shares of the semiconductor company’s stock valued at $1,238,000 after acquiring an additional 555 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $212.34 on Tuesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The business has a 50-day moving average price of $217.16 and a 200 day moving average price of $219.78. The company has a market capitalization of $105.32 billion, a P/E ratio of 67.62, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results 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 in the previous year, the business posted $1.73 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.86%. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on ADI shares. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley increased their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Finally, Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Transactions at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,000 shares of company stock valued at $5,082,860. Corporate 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.