Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,110 shares of the semiconductor company’s stock after purchasing an additional 2,626 shares during the period. Concurrent Investment Advisors LLC’s holdings in Analog Devices were worth $4,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADI. Swedbank AB lifted its holdings in Analog Devices by 6.7% in the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after acquiring an additional 180,870 shares during the period. Whittier Trust Co. increased its holdings in shares of Analog Devices by 17.0% in the 3rd quarter. Whittier Trust Co. now owns 2,693 shares of the semiconductor company’s stock valued at $620,000 after purchasing an additional 391 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Analog Devices by 9.5% in the third quarter. Foundations Investment Advisors LLC now owns 2,020 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 176 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Analog Devices by 5.0% during the third quarter. Sequoia Financial Advisors LLC now owns 12,431 shares of the semiconductor company’s stock worth $2,861,000 after buying an additional 587 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in Analog Devices by 6.4% during the third quarter. Private Advisor Group LLC now owns 20,936 shares of the semiconductor company’s stock worth $4,818,000 after buying an additional 1,264 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $243.82 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $120.96 billion, a PE ratio of 74.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04. The business’s 50-day moving average price is $215.06 and its 200 day moving average price is $219.97. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business 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 revenue was down 3.6% on a year-over-year basis. On average, research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.62%. 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. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group increased their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays cut their target price 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. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $255.19.

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.