Motiv8 Investments LLC Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Motiv8 Investments LLC increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 48.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,772 shares of the semiconductor company’s stock after purchasing an additional 1,566 shares during the quarter. Motiv8 Investments LLC’s holdings in Analog Devices were worth $1,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Bank of Hawaii increased its stake in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares during the period. MONECO Advisors LLC raised its stake in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after acquiring an additional 50 shares in the last quarter. NTV Asset Management LLC grew its stake in Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares in the last quarter. West Oak Capital LLC grew its position in shares of Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after buying an additional 55 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in Analog Devices by 0.8% in the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock valued at $1,568,000 after acquiring an additional 57 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 0.7 %

Shares of Analog Devices stock opened at $233.73 on Thursday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. 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 business has a 50 day moving average price of $216.87 and a 200 day moving average price of $220.90. The company has a market capitalization of $115.92 billion, a P/E ratio of 74.44, a P/E/G ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating 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 return on equity of 8.91% and a net margin of 16.75%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 earnings per share. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has approved a stock 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 reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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 given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Wells Fargo & Company increased their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Benchmark upped their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock 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.