Mufg Securities Americas Inc. Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Mufg Securities Americas Inc. bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,330 shares of the semiconductor company’s stock, valued at approximately $1,557,000.

Several other hedge funds have also added to or reduced their stakes in ADI. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter worth $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC increased its position in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the period. Financial Life Planners acquired a new stake in Analog Devices in the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC bought a new stake in Analog Devices in the 4th quarter valued at about $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer now owns 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock valued at $8,735,156 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADI shares. Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. 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 research report on Thursday, February 20th. Barclays lowered their price objective on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Citigroup cut their target price 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. Finally, Stifel Nicolaus decreased their price target on Analog Devices from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $250.20.

Analog Devices Price Performance

ADI stock opened at $226.68 on Wednesday. The stock has a market cap of $112.43 billion, a price-to-earnings ratio of 72.19, a P/E/G ratio of 2.85 and a beta of 0.98. 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 50 day simple moving average of $195.99 and a 200 day simple moving average of $210.52. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last posted 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. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $1.73 earnings per share. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The company 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. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

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.