Vinva Investment Management Ltd Purchases 7,529 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Vinva Investment Management Ltd boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 55.9% during the fourth quarter, Holdings Channel reports. The fund owned 20,992 shares of the semiconductor company’s stock after acquiring an additional 7,529 shares during the period. Vinva Investment Management Ltd’s holdings in Analog Devices were worth $4,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Stokes Family Office LLC bought a new position in Analog Devices in the fourth quarter valued at $355,000. Xponance Inc. increased its stake in Analog Devices by 1.2% in the fourth quarter. Xponance Inc. now owns 74,698 shares of the semiconductor company’s stock valued at $15,870,000 after acquiring an additional 875 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Analog Devices during the fourth quarter valued at about $2,368,000. Horizon Investments LLC grew its stake in shares of Analog Devices by 52.3% during the fourth quarter. Horizon Investments LLC now owns 23,662 shares of the semiconductor company’s stock valued at $5,027,000 after buying an additional 8,123 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Analog Devices by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 25,883 shares of the semiconductor company’s stock valued at $5,531,000 after buying an additional 547 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price objective on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, TD Cowen cut 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. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Performance

Shares of ADI opened at $209.97 on Thursday. The company has a 50-day simple moving average of $217.62 and a two-hundred day simple moving average of $220.15. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The firm has a market capitalization of $104.14 billion, a PE ratio of 66.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

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

Analog Devices declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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 represents a $3.96 annualized dividend and a dividend yield of 1.89%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

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.