AKO Capital LLP Has $247.99 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

AKO Capital LLP increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,167,224 shares of the semiconductor company’s stock after purchasing an additional 42,938 shares during the quarter. Analog Devices accounts for approximately 3.4% of AKO Capital LLP’s investment portfolio, making the stock its 16th largest position. AKO Capital LLP owned 0.24% of Analog Devices worth $247,988,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices during the fourth quarter valued at $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners acquired a new stake in Analog Devices in the fourth quarter valued at $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices during the 4th quarter worth $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $210.53 on Thursday. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The company’s 50-day moving average is $216.98 and its 200 day moving average is $219.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market capitalization of $104.42 billion, a price-to-earnings ratio of 67.05, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

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 analysts’ consensus estimates of $1.54 by $0.09. The business 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%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Insiders Place Their Bets

In other 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 transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock worth $7,746,500 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Benchmark raised their price objective on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.