StoneX Group Inc. Has $2.76 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

StoneX Group Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 21.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,991 shares of the semiconductor company’s stock after buying an additional 2,329 shares during the period. StoneX Group Inc.’s holdings in Analog Devices were worth $2,760,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after buying an additional 413,084 shares during the last quarter. State Street Corp lifted its position in Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after acquiring an additional 106,664 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Analog Devices by 1.3% during the third 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. grew its position in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Analog Devices in the fourth quarter worth about $1,755,958,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $199.18 on Wednesday. The firm has a market capitalization of $98.79 billion, a P/E ratio of 63.43, a P/E/G ratio of 2.85 and a beta of 1.07. The stock has a fifty day moving average price of $215.71 and a two-hundred day moving average price of $219.17. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

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, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the company posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its board has authorized a share buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid 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 1.99%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % 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 three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADI. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Morgan Stanley increased their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.