Analog Devices, Inc. (NASDAQ:ADI) Stake Lifted by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 16.2% in the 4th quarter, HoldingsChannel reports. The fund owned 183,205 shares of the semiconductor company’s stock after acquiring an additional 25,511 shares during the period. Handelsbanken Fonder AB’s holdings in Analog Devices were worth $36,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amarillo National Bank lifted its stake in Analog Devices by 3.7% during the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares during the last quarter. Keystone Financial Services lifted its stake in Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares during the last quarter. Ancora Advisors LLC lifted its stake in Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 57 shares during the last quarter. Legacy Advisors LLC lifted its stake in Analog Devices by 2.3% during the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 59 shares during the last quarter. Finally, MRA Advisory Group lifted its stake in Analog Devices by 2.5% during the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after purchasing an additional 61 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,825,113. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ADI shares. Truist Financial cut their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 price target on shares of Analog Devices in a research report on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research note on Thursday, February 22nd. Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, January 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Price Performance

NASDAQ ADI opened at $183.36 on Monday. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The stock’s 50-day moving average is $192.82 and its two-hundred day moving average is $186.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market cap of $90.93 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 4.60 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $2.75 earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.01%. Analog Devices’s payout ratio is presently 65.83%.

Analog Devices Company 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.