Allianz SE Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Allianz SE bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 47,698 shares of the semiconductor company’s stock, valued at approximately $10,139,000.

Several other hedge funds also recently modified their holdings of ADI. United Bank raised its position in shares of Analog Devices by 4.7% during the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 273 shares during the last quarter. Larson Financial Group LLC raised its holdings in Analog Devices by 103.6% during the 3rd quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock worth $103,000 after buying an additional 228 shares during the period. Fisher Asset Management LLC lifted its stake in Analog Devices by 20.2% in the third quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock valued at $652,000 after buying an additional 476 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Analog Devices by 0.8% during the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock worth $1,568,000 after acquiring an additional 57 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Analog Devices by 23.4% during the third quarter. Townsquare Capital LLC now owns 12,838 shares of the semiconductor company’s stock worth $2,955,000 after acquiring an additional 2,431 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 3.5 %

Shares of NASDAQ:ADI opened at $201.56 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a market capitalization of $99.97 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a fifty day moving average of $216.51 and a 200-day moving average of $219.52.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business posted $1.73 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.96%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 directly owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock worth $7,746,500 in the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of several recent research reports. Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Lake Street Capital started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. UBS Group boosted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Barclays cut their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.