Northern Trust Corp Buys 427,328 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Northern Trust Corp increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,521,162 shares of the semiconductor company’s stock after buying an additional 427,328 shares during the period. Northern Trust Corp owned 1.11% of Analog Devices worth $1,173,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Broderick Brian C raised its stake in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after buying an additional 2,017 shares during the last quarter. Curbstone Financial Management Corp bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $460,000. Czech National Bank raised its stake in shares of Analog Devices by 6.5% during the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock worth $22,871,000 after buying an additional 6,566 shares during the last quarter. 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 buying an additional 2,554 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Analog Devices during the third quarter worth approximately $20,194,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the business’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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,809 shares of company stock valued at $6,154,756 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADI. Benchmark upped their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial boosted their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Morgan Stanley set a $214.00 price target on Analog Devices in a research report on Monday, April 21st. Finally, Maxim Group assumed coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.43.

Analog Devices Price Performance

NASDAQ:ADI opened at $194.59 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock’s 50-day simple moving average is $203.25 and its 200 day simple moving average is $212.60. The company has a market cap of $96.51 billion, a P/E ratio of 61.97, a P/E/G ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 earnings per share. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to buy 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 stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 yield of 2.04%. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio 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.