LPL Financial LLC Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

LPL Financial LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 475,656 shares of the semiconductor company’s stock after purchasing an additional 48,983 shares during the period. LPL Financial LLC owned about 0.10% of Analog Devices worth $101,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ADI. Raymond James Financial Inc. purchased a new stake in Analog Devices during the 4th quarter worth approximately $833,386,000. Proficio Capital Partners LLC grew its holdings in shares of Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after buying an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. raised its holdings in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP grew its position in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.6 %

Shares of NASDAQ:ADI opened at $213.58 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The firm’s 50 day moving average price is $217.13 and its 200 day moving average price is $219.78. 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 stock has a market cap of $105.93 billion, a price-to-earnings ratio of 68.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 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%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Insider Buying and Selling at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,000 shares of company stock worth $5,082,860. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADI. Piper Sandler lowered their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Lake Street Capital initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. TD Cowen decreased their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

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.