Bahl & Gaynor Inc. Buys 4,068 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Bahl & Gaynor Inc. lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 292,002 shares of the semiconductor company’s stock after purchasing an additional 4,068 shares during the quarter. Bahl & Gaynor Inc. owned 0.06% of Analog Devices worth $62,039,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after acquiring an additional 3,059,349 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after purchasing an additional 853,931 shares during the period. Holocene Advisors LP boosted its position in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after purchasing an additional 823,709 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $228.53 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.93 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. The company’s 50 day moving average price is $217.82 and its two-hundred day moving average price is $221.14. The firm has a market cap of $113.35 billion, a PE ratio of 72.78, a PEG ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. Equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.73%. Analog Devices’s dividend payout ratio is currently 126.11%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents 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. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADI. Maxim Group initiated coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Truist Financial boosted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Benchmark increased their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $255.41.

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.