Invesco Ltd. Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Invesco Ltd. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,300,799 shares of the semiconductor company’s stock after selling 865,536 shares during the quarter. Analog Devices makes up approximately 0.4% of Invesco Ltd.’s portfolio, making the stock its 29th biggest position. Invesco Ltd.’s holdings in Analog Devices were worth $1,976,048,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Morgan Stanley raised their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Down 9.0 %

Shares of ADI opened at $164.60 on Monday. The firm’s 50 day moving average is $213.22 and its 200-day moving average is $218.28. The stock has a market capitalization of $81.64 billion, a PE ratio of 52.42, a P/E/G ratio of 2.85 and a beta of 1.06. 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 $159.66 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last posted 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. 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 analyst estimates of $2.36 billion. During the same period in the prior year, the firm posted $1.73 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

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 represents a $3.96 dividend on an annualized basis and a yield of 2.41%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

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

Insider Buying and Selling

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is 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.