Cetera Investment Advisers Raises Position in Analog Devices, Inc. (NASDAQ:ADI)

Cetera Investment Advisers increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,958 shares of the semiconductor company's stock after purchasing an additional 1,914 shares during the quarter. Cetera Investment Advisers' holdings in Analog Devices were worth $19,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position 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 purchasing an additional 413,084 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares during the last quarter. Norges Bank acquired a new position in shares of Analog Devices during the fourth quarter worth approximately $1,755,958,000. FMR LLC grew its holdings in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after buying an additional 61,390 shares in the last quarter. Finally, Northern Trust Corp increased its position in Analog Devices by 8.4% in the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock valued at $1,173,026,000 after acquiring an additional 427,328 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Stifel Nicolaus decreased their price target on Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, UBS Group decreased their target price on Analog Devices from $300.00 to $295.00 and set a "buy" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average target price of $250.19.

Analog Devices Price Performance

NASDAQ ADI traded up $3.53 during trading on Tuesday, hitting $226.68. 4,320,748 shares of the company's stock were exchanged, compared to its average volume of 3,500,418. The company has a market cap of $112.43 billion, a PE ratio of 72.19, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The stock's 50 day moving average price is $195.91 and its two-hundred day moving average price is $210.40.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $2.42 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $1.73 earnings per share. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.75%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is 126.11%.

Analog Devices declared that its board has approved a stock 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction 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 sale, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is owned by corporate insiders.

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.