Banco de Sabadell S.A Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Banco de Sabadell S.A boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 10,093 shares of the semiconductor company’s stock after acquiring an additional 194 shares during the quarter. Analog Devices accounts for 1.7% of Banco de Sabadell S.A’s holdings, making the stock its 26th largest holding. Banco de Sabadell S.A’s holdings in Analog Devices were worth $2,141,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC boosted its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices in the 4th quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $204.40 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market cap of $101.38 billion, a price-to-earnings ratio of 65.10, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock’s 50-day moving average is $217.17 and its two-hundred day moving average is $219.84. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm 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 earned $1.73 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated a stock 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,000 shares of company stock worth $5,082,860. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADI. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. UBS Group boosted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Analog Devices 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.