O Shaughnessy Asset Management LLC Raises Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

O Shaughnessy Asset Management LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.0% in the 4th quarter, HoldingsChannel reports. The firm owned 46,339 shares of the semiconductor company’s stock after purchasing an additional 4,596 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Analog Devices were worth $9,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADI. Mainstream Capital Management LLC purchased a new position in Analog Devices in the 4th quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at $30,000. Cassady Schiller Wealth Management LLC boosted its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners acquired a new position in Analog Devices during the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,684 shares of company stock valued at $7,746,500. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $201.67 on Tuesday. The firm has a market cap of $100.02 billion, a PE ratio of 64.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company’s 50 day simple moving average is $216.16 and its 200-day simple moving average is $219.35. 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 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 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 business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid 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 1.96%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADI. Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Oppenheimer restated an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices 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.