Banco Bilbao Vizcaya Argentaria S.A. Sells 10,981 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Banco Bilbao Vizcaya Argentaria S.A. decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,791 shares of the semiconductor company’s stock after selling 10,981 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Analog Devices were worth $19,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Invst LLC boosted its holdings in Analog Devices by 7.7% during the 3rd quarter. Invst LLC now owns 974 shares of the semiconductor company’s stock valued at $224,000 after acquiring an additional 70 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of Analog Devices by 4.1% during the third quarter. SkyView Investment Advisors LLC now owns 3,261 shares of the semiconductor company’s stock valued at $751,000 after purchasing an additional 128 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Analog Devices by 33.2% in the third quarter. Anchor Investment Management LLC now owns 2,485 shares of the semiconductor company’s stock worth $572,000 after purchasing an additional 619 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in Analog Devices by 0.9% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,680 shares of the semiconductor company’s stock worth $1,768,000 after buying an additional 65 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in Analog Devices by 4,581.5% during the 3rd quarter. World Investment Advisors LLC now owns 42,180 shares of the semiconductor company’s stock valued at $9,709,000 after buying an additional 41,279 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 2.6 %

Shares of Analog Devices stock opened at $183.11 on Thursday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The firm’s 50 day simple moving average is $204.15 and its two-hundred day simple moving average is $213.32. 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 firm has a market capitalization of $90.82 billion, a price-to-earnings ratio of 58.32, a PEG ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last issued its 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. The company had revenue of $2.42 billion during 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 firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Stifel Nicolaus lowered their target price on Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Lake Street Capital assumed coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Finally, Citigroup lowered their price objective on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $250.43.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company’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 completion of the transaction, the executive vice president now directly 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. Insiders sold 29,809 shares of company stock worth $6,154,756 over the last three months. Company 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.