Analog Devices, Inc. (NASDAQ:ADI) Position Raised by First Pacific Advisors LP

First Pacific Advisors LP raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,110,767 shares of the semiconductor company’s stock after acquiring an additional 7,649 shares during the period. Analog Devices makes up 6.4% of First Pacific Advisors LP’s investment portfolio, making the stock its 4th largest position. First Pacific Advisors LP’s holdings in Analog Devices were worth $448,454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after purchasing an additional 39,186 shares in the last quarter. Swiss National Bank increased its position in shares of Analog Devices by 0.3% during the third 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 lifted its holdings in shares of Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after buying an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp purchased a new stake in shares of Analog Devices in the fourth quarter worth about $460,000. Finally, Summit Global Investments bought a new position in shares of Analog Devices in the third quarter valued at approximately $867,000. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of analyst reports. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Benchmark increased their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Lake Street Capital assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Finally, Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Up 1.4 %

ADI opened at $225.86 on Monday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $218.48 and its 200-day moving average price is $221.17. The company has a market cap of $112.02 billion, a P/E ratio of 71.93, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 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 business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm earned $1.73 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is currently 126.11%.

About Analog Devices

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.