Banco de Sabadell S.A Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Banco de Sabadell S.A boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,093 shares of the semiconductor company’s stock after acquiring an additional 194 shares during the period. Analog Devices comprises about 1.7% of Banco de Sabadell S.A’s portfolio, making the stock its 26th largest position. Banco de Sabadell S.A’s holdings in Analog Devices were worth $2,141,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp raised its stake in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after buying an additional 106,664 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after acquiring an additional 135,838 shares during the period. Franklin Resources Inc. raised its position in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. FMR LLC lifted its stake in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Analog Devices by 4.8% during the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after purchasing an additional 226,716 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $5,082,860 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Down 0.7 %

Shares of ADI opened at $204.40 on Friday. The company has a market capitalization of $101.38 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The stock’s 50-day moving average price is $217.17 and its 200-day moving average price is $219.84. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several analyst reports. Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Truist Financial increased their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

About Analog Devices

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.