Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by ICW Investment Advisors LLC

ICW Investment Advisors LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,055 shares of the semiconductor company’s stock after acquiring an additional 203 shares during the quarter. ICW Investment Advisors LLC’s holdings in Analog Devices were worth $437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 acquiring an additional 413,084 shares in the last quarter. State Street Corp increased its position in Analog Devices by 0.5% during 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 last quarter. Geode Capital Management LLC increased its position in Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after purchasing an additional 135,838 shares during the last quarter. Franklin Resources Inc. grew its stake 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 during the period. Finally, FMR LLC grew its stake 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 buying an additional 665,149 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Barclays dropped their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, UBS Group increased their target price on shares of Analog Devices from $275.00 to $300.00 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 assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Performance

Shares of ADI opened at $204.40 on Monday. The firm has a market cap of $101.38 billion, a PE ratio of 65.10, a P/E/G ratio of 2.85 and a beta of 1.07. 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 stock has a fifty day moving average price of $217.17 and a 200-day moving average price of $219.83. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

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

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 represents a $3.96 dividend on an annualized basis and a yield of 1.94%. 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 126.11%.

Analog Devices declared that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction 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 represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock worth $5,082,860 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.