Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Mar Vista Investment Partners LLC

Mar Vista Investment Partners LLC grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 183,838 shares of the semiconductor company’s stock after purchasing an additional 13,861 shares during the quarter. Analog Devices accounts for about 2.7% of Mar Vista Investment Partners LLC’s holdings, making the stock its 20th biggest holding. Mar Vista Investment Partners LLC’s holdings in Analog Devices were worth $39,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADI. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after buying an additional 413,084 shares during the period. Geode Capital Management LLC grew its holdings in Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock valued at $2,248,971,000 after purchasing an additional 247,737 shares during the period. Franklin Resources Inc. increased its position in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares in the last quarter. Norges Bank acquired a new position in shares of Analog Devices during the 4th quarter worth approximately $1,755,958,000. Finally, FMR LLC lifted its position in shares of Analog Devices by 0.8% during the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock valued at $1,582,831,000 after buying an additional 61,390 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,809 shares of company stock valued at $6,154,756. 0.33% of the stock is owned by insiders.

Analog Devices Price Performance

Analog Devices stock opened at $178.50 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $204.78 and its 200 day simple moving average is $213.53. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a market capitalization of $88.53 billion, a PE ratio of 56.85, a P/E/G ratio of 2.85 and a beta of 1.06.

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

Analog Devices declared that its board has approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given 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 of this dividend was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Wall Street Analyst Weigh In

Several research firms recently commented on ADI. JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Citigroup lowered their price objective on Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Truist Financial lifted their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Finally, Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $250.43.

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.