Analog Devices, Inc. (NASDAQ:ADI) Holdings Decreased by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,508,397 shares of the semiconductor company’s stock after selling 202,211 shares during the period. Analog Devices accounts for approximately 1.1% of Rafferty Asset Management LLC’s portfolio, making the stock its 13th biggest position. Rafferty Asset Management LLC’s holdings in Analog Devices were worth $320,474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Midwest Professional Planners LTD. lifted its position in shares of Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the last quarter. Portland Global Advisors LLC grew its stake in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 53 shares during the period. NTV Asset Management LLC boosted its holdings in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 54 shares in the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its holdings in Analog Devices by 4.3% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company’s stock worth $299,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the firm’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 transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 completion of the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, 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 42,934 shares of company stock valued at $8,735,156 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analog Devices Price Performance

Shares of ADI opened at $226.82 on Thursday. The company has a market capitalization of $112.50 billion, a P/E ratio of 72.24, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $196.01 and a 200 day moving average of $210.63. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month 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 (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.36 billion. During the same quarter last year, the company posted $1.73 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business 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 of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADI shares. Morgan Stanley set a $214.00 price objective on Analog Devices in a report on Monday, April 21st. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Finally, Stifel Nicolaus reduced their price target on Analog Devices from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $250.20.

Analog Devices Company 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.