one8zero8 LLC Acquires New Position in Analog Devices, Inc. (NASDAQ:ADI)

one8zero8 LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, Holdings Channel reports. The fund acquired 9,218 shares of the semiconductor company’s stock, valued at approximately $1,958,000.

Other institutional investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the 4th quarter valued at about $30,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter valued at about $30,000. Archer Investment Corp boosted its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices during the 4th quarter valued at about $33,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices during the 3rd quarter valued at about $43,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ADI shares. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 2.4 %

Shares of ADI opened at $208.75 on Friday. The firm has a market capitalization of $103.53 billion, a P/E ratio of 66.48, a P/E/G ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $218.09 and a 200-day moving average price of $220.58.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during 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 firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. Equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.90%. Analog Devices’s payout ratio is currently 126.11%.

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

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.