Baird Financial Group Inc. Sells 23,975 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Baird Financial Group Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 453,853 shares of the semiconductor company's stock after selling 23,975 shares during the quarter. Baird Financial Group Inc. owned 0.09% of Analog Devices worth $96,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in Analog Devices during the 4th quarter valued at about $1,755,958,000. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $833,386,000. Proficio Capital Partners LLC grew its position in Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock valued at $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. increased its stake in 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 buying an additional 1,189,940 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Analog Devices by 301.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after buying an additional 1,186,981 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADI has been the subject of several recent research reports. Truist Financial increased their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Wells Fargo & Company raised 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. Barclays decreased their target price on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, Benchmark boosted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $250.43.

Insider Transactions at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares of the company's stock, 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 three months, insiders have sold 39,809 shares of company stock worth $8,123,156. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

Shares of ADI traded up $4.72 on Wednesday, reaching $200.32. 2,965,657 shares of the stock traded hands, compared to its average volume of 3,475,741. The firm has a market cap of $99.35 billion, a price-to-earnings ratio of 63.80, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock's 50-day moving average price is $197.51 and its 200-day moving average price is $211.05. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The company 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 company's revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. Equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. 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 1.98%. Analog Devices's payout ratio is currently 126.11%.

Analog Devices announced that its board has approved a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Analog Devices Company 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.