Boston Partners Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Boston Partners reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 512,302 shares of the semiconductor company’s stock after selling 6,526 shares during the period. Boston Partners’ holdings in Analog Devices were worth $108,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares during the last quarter. Franklin Resources Inc. grew its stake 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 valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. FMR LLC boosted its stake in shares of Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after buying an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Analog Devices by 4.8% in the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after buying an additional 226,716 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $209.16 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a market cap of $103.74 billion, a price-to-earnings ratio of 66.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The business has a fifty day moving average of $217.83 and a 200-day moving average of $220.22. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 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 revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given 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 1.89%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ADI shares. Piper Sandler decreased their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Barclays decreased their price target on 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. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.