Dodge & Cox Lowers Position in Analog Devices, Inc. (NASDAQ:ADI)

Dodge & Cox decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,185 shares of the semiconductor company’s stock after selling 630 shares during the period. Dodge & Cox’s holdings in Analog Devices were worth $6,626,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Analog Devices during the fourth quarter worth $1,755,958,000. Raymond James Financial Inc. purchased a new stake in shares of Analog Devices during the 4th quarter valued at $833,386,000. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after purchasing an additional 3,059,349 shares during the period. Franklin Resources Inc. boosted its holdings 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 buying an additional 1,189,940 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new position in Analog Devices during the fourth quarter valued at about $111,470,000. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ADI shares. Barclays dropped their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. upped their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Citigroup dropped their price target on Analog Devices from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $254.73.

Insider Activity

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were 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 of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,684 shares of company stock worth $5,591,600. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Up 0.5 %

Shares of NASDAQ ADI opened at $179.54 on Wednesday. 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 business has a 50-day moving average of $207.71 and a 200-day moving average of $215.30. The firm has a market capitalization of $89.05 billion, a price-to-earnings ratio of 57.18, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 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 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 2.21%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices announced that its board has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.