Baer Investment Advisory LLC Acquires New Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Baer Investment Advisory LLC bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,406 shares of the semiconductor company's stock, valued at approximately $3,743,000. Analog Devices makes up 7.8% of Baer Investment Advisory LLC's portfolio, making the stock its 2nd biggest position.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped 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. Wells Fargo & Company reaffirmed a "positive" rating on shares of Analog Devices in a report on Friday. Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. TD Cowen upped their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Friday. Finally, Oppenheimer increased their price target on shares of Analog Devices from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $248.63.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock valued at $8,735,156 over the last three months. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

Analog Devices stock traded up $6.42 during mid-day trading on Tuesday, hitting $216.89. The company's stock had a trading volume of 5,542,186 shares, compared to its average volume of 3,525,334. The stock has a market capitalization of $107.57 billion, a P/E ratio of 69.07, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The stock's fifty day moving average price is $197.67 and its two-hundred day moving average price is $210.03. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.83%. Analog Devices's dividend payout ratio is 107.90%.

Analog Devices announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

About Analog Devices

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.