Russell Investments Group Ltd. Buys 79,648 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Russell Investments Group Ltd. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 22.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 433,696 shares of the semiconductor company’s stock after acquiring an additional 79,648 shares during the quarter. Russell Investments Group Ltd.’s holdings in Analog Devices were worth $92,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADI. Broderick Brian C grew its stake in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after purchasing an additional 2,017 shares during the period. Curbstone Financial Management Corp bought a new stake in shares of Analog Devices during the 4th quarter valued at $460,000. Czech National Bank grew its position 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 worth $22,871,000 after buying an additional 6,566 shares during the period. Synergy Asset Management LLC increased its stake in shares of Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after acquiring an additional 2,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in Analog Devices during the 3rd quarter valued at about $20,194,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $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 26,684 shares of company stock valued at $5,591,600. Company insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 9.0 %

Analog Devices stock opened at $164.60 on Friday. Analog Devices, Inc. has a 52-week low of $164.14 and a 52-week high of $247.10. The company has a market cap of $81.64 billion, a P/E ratio of 52.42, a P/E/G ratio of 2.85 and a beta of 1.06. 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 business has a 50-day simple moving average of $213.22 and a two-hundred day simple moving average of $218.31.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business posted $1.73 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has authorized 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 repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.41%. Analog Devices’s payout ratio is 126.11%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADI. Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Oppenheimer reaffirmed 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. Truist Financial boosted their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices 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.