Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Delaney Dennis R

Delaney Dennis R increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,270 shares of the semiconductor company’s stock after acquiring an additional 495 shares during the period. Analog Devices makes up about 3.4% of Delaney Dennis R’s investment portfolio, making the stock its 12th biggest position. Delaney Dennis R’s holdings in Analog Devices were worth $6,431,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ADI. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. Geode Capital Management LLC grew its holdings in Analog Devices by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock valued at $2,248,971,000 after buying an additional 247,737 shares during the last quarter. Franklin Resources Inc. increased its position in Analog Devices by 14.9% during the third 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 in the last quarter. Norges Bank acquired a new position in shares of Analog Devices in the fourth quarter worth $1,755,958,000. Finally, FMR LLC lifted its position in shares of Analog Devices by 0.8% in the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock valued at $1,582,831,000 after acquiring an additional 61,390 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Truist Financial boosted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Finally, Oppenheimer reiterated 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, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.73.

Insider Activity at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock worth $5,591,600 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of ADI opened at $178.60 on Tuesday. The stock has a market capitalization of $88.58 billion, a PE ratio of 56.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The business’s fifty day moving average price is $208.27 and its 200 day moving average price is $215.55. 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, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

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

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.