Boston Partners Reduces Stake in Analog Devices, Inc. (NASDAQ:ADI)

Boston Partners reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 512,302 shares of the semiconductor company’s stock after selling 6,526 shares during the quarter. Boston Partners owned approximately 0.10% of Analog Devices worth $108,888,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADI. State Street Corp grew its holdings in shares of Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after purchasing an additional 106,664 shares during the period. Geode Capital Management LLC grew its holdings in shares of Analog Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after purchasing an additional 135,838 shares during the period. Franklin Resources Inc. grew its holdings in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. FMR LLC grew its holdings in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Analog Devices by 4.8% during the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock worth $1,058,364,000 after purchasing an additional 226,716 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADI. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Benchmark increased their target price 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, Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $209.16 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The firm has a market capitalization of $103.74 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock’s 50-day simple moving average is $217.83 and its 200-day simple moving average is $220.22.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company earned $1.73 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy 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 company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

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.