TCW Group Inc. Purchases 673 Shares of Analog Devices, Inc. (NASDAQ:ADI)

TCW Group Inc. boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,109 shares of the semiconductor company’s stock after purchasing an additional 673 shares during the period. TCW Group Inc.’s holdings in Analog Devices were worth $3,423,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after buying an additional 39,186 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp bought a new stake in shares of Analog Devices during the 4th quarter valued at approximately $460,000. Finally, Summit Global Investments acquired a new position in Analog Devices during the 3rd quarter worth approximately $867,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 2.0 %

Shares of Analog Devices stock opened at $238.91 on Monday. The stock’s 50-day moving average is $215.50 and its 200 day moving average is $220.48. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The firm has a market cap of $118.49 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 2.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 EPS. Equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management 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 yield of 1.66%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 117.20%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ADI shares. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Barclays cut their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. UBS Group upped their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research note on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned 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.

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.