Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Stonebridge Capital Advisors LLC

Stonebridge Capital Advisors LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,982 shares of the semiconductor company’s stock after acquiring an additional 1,525 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in Analog Devices were worth $2,971,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ADI. Vanguard Group Inc. raised its position in 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 during the period. Geode Capital Management LLC raised its holdings in Analog Devices by 2.4% in 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 period. Franklin Resources Inc. lifted its position in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Norges Bank purchased a new position in Analog Devices during the fourth quarter worth about $1,755,958,000. Finally, FMR LLC increased its position in shares of Analog Devices by 0.8% during 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 during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now directly owns 186,321 shares in the company, valued at approximately $33,576,907.41. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock worth $6,154,756 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADI. Morgan Stanley set a $214.00 price objective on shares of Analog Devices in a report on Monday. Barclays decreased their price target on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Truist Financial lifted their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Citigroup decreased their target price on Analog Devices from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Lake Street Capital began coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.43.

Analog Devices Stock Up 2.6 %

Analog Devices stock opened at $183.11 on Thursday. The stock has a market cap of $90.82 billion, a PE ratio of 58.32, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock’s fifty day moving average is $204.15 and its two-hundred day moving average is $213.32. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10.

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

Analog Devices declared that its Board of Directors has approved a share 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 purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase 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 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.