Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 8,817 shares of the semiconductor company’s stock after acquiring an additional 888 shares during the quarter. Principal Securities Inc.’s holdings in Analog Devices were worth $1,873,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADI. Charles Schwab Investment Management Inc. boosted its position in Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares during the last quarter. Swiss National Bank lifted its stake in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after acquiring an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp purchased a new position in shares of Analog Devices during the fourth quarter worth $460,000. Finally, Summit Global Investments acquired a new position in Analog Devices during the third quarter valued at $867,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ADI shares. Truist Financial increased their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Benchmark began coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating and a $245.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley cut their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Finally, Barclays lowered their price target 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. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $248.52.

Analog Devices Trading Up 2.6 %

Shares of ADI stock opened at $220.22 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The stock’s fifty day moving average is $213.95 and its two-hundred day moving average is $219.56. The firm has a market capitalization of $109.25 billion, a P/E ratio of 66.94, a PEG ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 earnings per share. Research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.80%. Analog Devices’s payout ratio is currently 111.85%.

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

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 owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

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.