Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Glenview Trust co

Glenview Trust co raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,925 shares of the semiconductor company’s stock after acquiring an additional 4,190 shares during the period. Glenview Trust co’s holdings in Analog Devices were worth $33,765,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new position in Analog Devices during the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Archer Investment Corp boosted its stake in shares of 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 acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ADI shares. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Morgan Stanley lifted their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price 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 research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Price Performance

ADI stock opened at $208.75 on Friday. 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 company has a market capitalization of $103.53 billion, a P/E ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07. The business has a 50 day simple moving average of $218.09 and a 200-day simple moving average of $220.58. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly 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 during 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%. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 EPS. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

Analog Devices declared that its Board of Directors has initiated a share 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 purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Company 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.