Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Prudential PLC

Prudential PLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 32.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,878 shares of the semiconductor company’s stock after selling 5,164 shares during the period. Prudential PLC’s holdings in Analog Devices were worth $2,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices during the fourth quarter worth about $460,000. Czech National Bank increased its holdings in shares of Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after purchasing an additional 6,566 shares during the period. Synergy Asset Management LLC raised its stake in shares of Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after purchasing an additional 2,554 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Analog Devices during the third quarter worth $20,194,000. Finally, RFG Advisory LLC grew its position in Analog Devices by 3.9% in the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock valued at $440,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,684 shares of company stock valued at $5,591,600. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ADI shares. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Truist Financial lifted their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. UBS Group increased their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Benchmark upped their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Price Performance

ADI stock opened at $164.60 on Monday. The stock’s 50 day moving average price is $213.22 and its 200 day moving average price is $218.28. The firm has a market cap of $81.64 billion, a P/E ratio of 52.42, a PEG ratio of 2.85 and a beta of 1.06. 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 1 year low of $160.24 and a 1 year high of $247.10.

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. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a stock repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Tuesday, March 4th. 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.