Vident Advisory LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Vident Advisory LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 687.0% during the 4th quarter, Holdings Channel reports. The firm owned 68,961 shares of the semiconductor company’s stock after purchasing an additional 60,199 shares during the quarter. Vident Advisory LLC’s holdings in Analog Devices were worth $14,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the 4th quarter worth $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC raised its position in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the period. Financial Life Planners purchased a new position in Analog Devices in the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices during the 4th quarter valued at approximately $41,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI opened at $227.11 on Monday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. 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 company has a market cap of $112.64 billion, a PE ratio of 72.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The stock has a 50-day moving average price of $196.58 and a 200-day moving average price of $210.33.

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 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 analyst estimates of $2.36 billion. During the same period in the previous year, the business posted $1.73 earnings per share. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This is an increase 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 1.74%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of Analog Devices from $300.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a research note on Wednesday, April 30th. Wells Fargo & Company increased their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.95.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 in the company, valued at $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,934 shares of company stock worth $8,735,156. Corporate insiders own 0.33% of the company’s stock.

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.