Independent Advisor Alliance Acquires 1,792 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Independent Advisor Alliance lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,560 shares of the semiconductor company’s stock after buying an additional 1,792 shares during the period. Independent Advisor Alliance’s holdings in Analog Devices were worth $4,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ADI. Swedbank AB grew its stake in Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after buying an additional 180,870 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of Analog Devices by 7.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock worth $352,728,000 after acquiring an additional 110,448 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Analog Devices in the third quarter valued at approximately $28,000. United Bank raised its position in Analog Devices by 4.7% during the third quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after purchasing an additional 273 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its stake in Analog Devices by 15.7% during the third quarter. Mesirow Financial Investment Management Inc. now owns 1,981 shares of the semiconductor company’s stock worth $456,000 after purchasing an additional 269 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $209.08 on Wednesday. The stock has a market capitalization of $103.70 billion, a PE ratio of 66.59, a PEG ratio of 2.85 and a beta of 1.07. The business’s 50 day simple moving average is $218.49 and its 200 day simple moving average is $220.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a one year low of $182.57 and a one year 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. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.89%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, Wells Fargo & Company increased 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 note 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $255.41.

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.