Ensign Peak Advisors Inc Has $326.05 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Ensign Peak Advisors Inc grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,534,654 shares of the semiconductor company's stock after purchasing an additional 48,133 shares during the period. Analog Devices accounts for 0.6% of Ensign Peak Advisors Inc's portfolio, making the stock its 29th biggest position. Ensign Peak Advisors Inc owned approximately 0.31% of Analog Devices worth $326,053,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the 4th quarter valued at about $30,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices during the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices during the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the fourth quarter valued at about $41,000. Institutional investors own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADI shares. Citigroup reduced their price objective on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Stifel Nicolaus reduced their price objective on shares of Analog Devices from $275.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays decreased their price target on shares of Analog Devices from $240.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, Truist Financial raised their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $250.19.

Analog Devices Stock Performance

ADI stock traded up $3.53 on Tuesday, reaching $226.68. 4,373,384 shares of the company were exchanged, compared to its average volume of 3,500,419. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10. The stock's fifty day moving average price is $195.91 and its 200 day moving average price is $210.40. The firm has a market capitalization of $112.43 billion, a PE ratio of 72.19, a PEG 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.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the company posted $1.73 EPS. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

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

Analog Devices announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,934 shares of company stock worth $8,735,156. Corporate insiders own 0.33% of the company's stock.

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.