Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Cantillon Capital Management LLC

Cantillon Capital Management LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,309,278 shares of the semiconductor company’s stock after purchasing an additional 12,156 shares during the quarter. Analog Devices comprises about 3.0% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Cantillon Capital Management LLC owned approximately 0.47% of Analog Devices worth $490,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the 3rd quarter worth about $28,000. Archer Investment Corp boosted its position in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices in the 4th quarter worth about $33,000. Kestra Investment Management LLC purchased a new stake in shares of Analog Devices in the 4th quarter worth about $41,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices in the 3rd quarter worth about $43,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Up 2.7 %

ADI opened at $229.82 on Friday. The firm has a 50 day moving average price of $217.55 and a 200 day moving average price of $221.07. The company has a market cap of $113.99 billion, a PE ratio of 73.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 16.75% and a return on equity of 8.91%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced 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 represents a $3.96 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 completion of the sale, the chief executive officer now 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley boosted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Finally, Truist Financial upped their target price 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. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.