Dearborn Partners LLC Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Dearborn Partners LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,400 shares of the semiconductor company’s stock after buying an additional 209 shares during the quarter. Dearborn Partners LLC’s holdings in Analog Devices were worth $1,997,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADI. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the third quarter valued at approximately $28,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Archer Investment Corp raised its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners purchased a new stake in Analog Devices in the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors 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 company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Performance

Shares of ADI stock opened at $216.26 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $218.56 and a 200 day moving average price of $221.13. The company has a market cap of $107.26 billion, a P/E ratio of 68.87, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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 net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a share 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 repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is currently 126.11%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADI. Wells Fargo & Company boosted their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Barclays cut 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. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.