Global Retirement Partners LLC Buys 361 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Global Retirement Partners LLC lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,440 shares of the semiconductor company’s stock after acquiring an additional 361 shares during the period. Global Retirement Partners LLC’s holdings in Analog Devices were worth $1,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ADI. State Street Corp raised its holdings in Analog Devices by 0.5% in the third 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 increased its position in shares of Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after buying an additional 135,838 shares in the last quarter. Franklin Resources Inc. raised its stake in 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 buying an additional 1,189,940 shares during the period. FMR LLC lifted its holdings in Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Analog Devices by 4.8% in the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after acquiring an additional 226,716 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

ADI has been the topic of a number of research analyst reports. Benchmark raised their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group lifted their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $255.19.

Analog Devices Price Performance

Shares of ADI opened at $243.82 on Friday. The company has a market cap of $120.96 billion, a price-to-earnings ratio of 74.11, a PEG ratio of 2.53 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $215.06 and its 200 day simple moving average is $219.97. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm earned $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is currently 111.85%.

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.