Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Timucuan Asset Management Inc. FL

Timucuan Asset Management Inc. FL lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 936,423 shares of the semiconductor company’s stock after acquiring an additional 7,969 shares during the quarter. Analog Devices comprises about 6.1% of Timucuan Asset Management Inc. FL’s investment portfolio, making the stock its 7th biggest holding. Timucuan Asset Management Inc. FL owned 0.19% of Analog Devices worth $198,952,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the fourth quarter valued at $30,000. Cassady Schiller Wealth Management LLC lifted its position in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners bought a new stake in shares of Analog Devices during the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices in the 4th quarter worth $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated 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 $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,684 shares of company stock worth $5,591,600. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Benchmark upped their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Truist Financial lifted their price objective 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. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Trading Down 9.3 %

ADI stock opened at $178.36 on Friday. 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 twelve month low of $158.65 and a twelve month high of $247.10. The company has a market cap of $88.46 billion, a P/E ratio of 56.80, a PEG ratio of 2.85 and a beta of 1.06. The business has a fifty day moving average of $209.43 and a 200-day moving average of $216.37.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

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.