Fmr LLC Purchases 61,390 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fmr LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,450,018 shares of the semiconductor company’s stock after acquiring an additional 61,390 shares during the quarter. Fmr LLC owned about 1.50% of Analog Devices worth $1,582,831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. United Bank grew its stake in shares of Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after acquiring an additional 273 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Analog Devices by 3.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company’s stock worth $927,000 after purchasing an additional 118 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Analog Devices during the 3rd quarter worth approximately $2,198,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Analog Devices in the third quarter worth $11,045,000. Finally, Wellington Management Group LLP lifted its stake in shares of Analog Devices by 16.6% during the third quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company’s stock worth $9,978,000 after buying an additional 6,164 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock worth $5,591,600 over the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. UBS Group lifted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Truist Financial boosted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Down 9.0 %

ADI stock opened at $164.60 on Monday. Analog Devices, Inc. has a 52 week low of $159.66 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 firm has a 50-day simple moving average of $213.22 and a 200-day simple moving average of $218.28. The stock has a market capitalization of $81.64 billion, a P/E ratio of 52.42, a P/E/G ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last posted 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. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 EPS. Equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.41%. Analog Devices’s dividend payout ratio is presently 126.11%.

About Analog Devices

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.