TCW Group Inc. Has $3.42 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

TCW Group Inc. boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the third quarter worth about $28,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Financial Life Planners bought a new position in shares of Analog Devices during the 4th quarter worth approximately $33,000. Peterson Financial Group Inc. bought a new position in shares of Analog Devices during the 3rd quarter worth approximately $43,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 2.0 %

Shares of ADI stock opened at $238.91 on Monday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a market capitalization of $118.49 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. The firm has a 50 day moving average price of $215.50 and a two-hundred day moving average price of $220.48. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the company posted $1.73 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices announced that its board has initiated a stock repurchase 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 an indication that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. Analog Devices’s dividend payout ratio is 117.20%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the business’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 directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group increased their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Oppenheimer reissued an “outperform” rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday. Finally, Lake Street Capital assumed coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.