TCTC Holdings LLC Acquires 350 Shares of Analog Devices, Inc. (NASDAQ:ADI)

TCTC Holdings LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,063 shares of the semiconductor company’s stock after buying an additional 350 shares during the quarter. TCTC Holdings LLC’s holdings in Analog Devices were worth $11,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares during the period. Swiss National Bank increased its holdings in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after buying an additional 7,386 shares during the period. Curbstone Financial Management Corp bought a new stake in Analog Devices in the 4th quarter valued at $460,000. Finally, Czech National Bank boosted its stake in shares of Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after purchasing an additional 6,566 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $208.75 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a market cap of $103.53 billion, a PE ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07. The company’s 50-day moving average is $218.09 and its two-hundred day moving average is $220.53.

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. 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 the consensus estimate of $2.36 billion. During the same period in the prior year, the company posted $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.90%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on ADI. Benchmark boosted 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. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Truist Financial boosted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.