Royal Bank of Canada Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Royal Bank of Canada increased its position in Analog Devices, Inc. (NASDAQ:ADI) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,529,223 shares of the semiconductor company’s stock after acquiring an additional 395,969 shares during the quarter. Royal Bank of Canada’s holdings in Analog Devices were worth $537,358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter valued at approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the 4th quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC grew its holdings in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices during the 4th quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter valued at approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.0%

NASDAQ ADI opened at $227.11 on Friday. 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 company has a fifty day moving average of $196.58 and a two-hundred day moving average of $210.55. The firm has a market capitalization of $112.64 billion, a price-to-earnings ratio of 72.33, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate 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 net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. 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 announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Williams Trading set a $245.00 price objective on shares of Analog Devices in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Citigroup cut their price objective on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a report on Friday, April 11th. UBS Group cut their target price on shares of Analog Devices from $300.00 to $295.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $249.95.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the sale, the director now directly owns 180,071 shares in the company, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is currently owned by insiders.

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.