Elefante Mark B Acquires New Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Elefante Mark B bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 18,559 shares of the semiconductor company's stock, valued at approximately $3,943,000. Analog Devices accounts for 3.6% of Elefante Mark B's holdings, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth about $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the 4th quarter worth about $30,000. Cassady Schiller Wealth Management LLC raised its position in shares of Analog Devices by 63.2% in the 4th 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 in the last quarter. Financial Life Planners bought a new position in shares of Analog Devices in the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth about $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley set a $214.00 target price on Analog Devices in a research report on Monday, April 21st. 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 report on Monday. JPMorgan Chase & Co. boosted their target price on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Stifel Nicolaus decreased their target price on Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Lake Street Capital assumed coverage on Analog Devices in a research report on Friday, February 14th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $250.19.

Analog Devices Stock Up 7.5%

Analog Devices stock traded up $15.64 during trading hours on Monday, hitting $223.15. 6,358,142 shares of the stock traded hands, compared to its average volume of 3,496,925. The firm's 50-day moving average price is $196.04 and its two-hundred day moving average price is $210.45. 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 $110.68 billion, a PE ratio of 71.07, a PEG ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last released 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. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue was down 3.6% on a year-over-year basis. During the same period last year, the business earned $1.73 earnings per share. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current 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 paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.77%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio is 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer now owns 142,996 shares of the company's stock, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,934 shares of company stock worth $8,735,156. Corporate insiders own 0.33% of the company's stock.

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.