Oppenheimer Asset Management Inc. Has $21.68 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Oppenheimer Asset Management Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,052 shares of the semiconductor company’s stock after selling 1,534 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Analog Devices were worth $21,682,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Swedbank AB raised its position in Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares in the last quarter. Integrated Advisors Network LLC raised its position in Analog Devices by 27.5% during the 3rd quarter. Integrated Advisors Network LLC now owns 3,911 shares of the semiconductor company’s stock worth $900,000 after purchasing an additional 843 shares during the last quarter. MONECO Advisors LLC increased its position in Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after purchasing an additional 50 shares during the period. Eagle Strategies LLC raised its stake in Analog Devices by 230.3% during the third quarter. Eagle Strategies LLC now owns 3,065 shares of the semiconductor company’s stock worth $706,000 after buying an additional 2,137 shares during the last quarter. Finally, Avitas Wealth Management LLC lifted its stake in shares of Analog Devices by 1.6% in the 3rd quarter. Avitas Wealth Management LLC now owns 13,808 shares of the semiconductor company’s stock valued at $3,178,000 after purchasing an additional 214 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Morgan Stanley raised their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Finally, TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Performance

NASDAQ ADI opened at $233.73 on Thursday. The company’s 50 day simple moving average is $216.87 and its two-hundred day simple moving average is $220.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The stock has a market capitalization of $115.92 billion, a PE ratio of 74.44, a P/E/G ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the business posted $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

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

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company 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.