Westwood Holdings Group Inc. Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Westwood Holdings Group Inc. 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 Securities & Exchange Commission. The firm bought 4,375 shares of the semiconductor company's stock, valued at approximately $930,000.

Several other hedge funds also recently made changes to their positions in ADI. Norges Bank bought a new position in shares of Analog Devices during the fourth quarter worth approximately $1,755,958,000. Raymond James Financial Inc. bought a new position in Analog Devices in the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC increased its stake in Analog Devices by 22,005.0% in 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 acquiring an additional 3,059,349 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after acquiring an additional 1,186,981 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Analog Devices by 71.0% in the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock valued at $458,683,000 after acquiring an additional 896,694 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th. Piper Sandler decreased their price objective on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday. Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Benchmark decreased their price objective on shares of Analog Devices from $275.00 to $260.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Stifel Nicolaus raised their target price on shares of Analog Devices from $225.00 to $248.00 and gave the company a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $247.82.

Analog Devices Stock Down 0.7%

Shares of NASDAQ:ADI traded down $1.46 during midday trading on Friday, hitting $210.47. 4,848,121 shares of the company's stock were exchanged, compared to its average volume of 3,521,342. 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 has a 50 day moving average price of $197.66 and a 200-day moving average price of $210.37. The company has a market cap of $104.39 billion, a PE ratio of 67.03, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. 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 posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices's payout ratio is 126.11%.

Analog Devices announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now directly owns 186,321 shares in the company, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer now owns 142,996 shares in the company, valued at $28,147,332.64. The trade was a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,934 shares of company stock valued at $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.