UniSuper Management Pty Ltd Acquires 7,313 Shares of Analog Devices, Inc. (NASDAQ:ADI)

UniSuper Management Pty Ltd boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 271,969 shares of the semiconductor company’s stock after purchasing an additional 7,313 shares during the period. UniSuper Management Pty Ltd owned about 0.05% of Analog Devices worth $57,783,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the 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 transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock valued at $7,746,500 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent analyst reports. UBS Group lifted their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Williams Trading set a $245.00 price objective on Analog Devices in a research report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Price Performance

ADI stock opened at $210.53 on Thursday. The stock has a market cap of $104.42 billion, a PE ratio of 67.05, a P/E/G 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. The company has a 50-day moving average price of $216.98 and a 200 day moving average price of $219.72. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its 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 analyst estimates of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has approved a stock 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 buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

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

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.