8,000 Shares in Analog Devices, Inc. (NASDAQ:ADI) Acquired by Gray Foundation

Gray Foundation bought a new position in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,000 shares of the semiconductor company’s stock, valued at approximately $1,700,000. Analog Devices comprises approximately 0.5% of Gray Foundation’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp increased its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $33,000. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices during the third quarter valued at approximately $43,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research reports. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Morgan Stanley boosted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $236.99 on Tuesday. The stock’s fifty day moving average price is $215.92 and its two-hundred day moving average price is $220.64. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market cap of $117.54 billion, a PE ratio of 75.47, a price-to-earnings-growth 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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company earned $1.73 EPS. The company’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This is a positive change 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 dividend yield of 1.67%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.