Kovitz Investment Group Partners LLC Purchases 1,186,981 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Kovitz Investment Group Partners LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 301.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,581,157 shares of the semiconductor company's stock after purchasing an additional 1,186,981 shares during the quarter. Analog Devices makes up about 1.1% of Kovitz Investment Group Partners LLC's investment portfolio, making the stock its 28th largest position. Kovitz Investment Group Partners LLC owned 0.32% of Analog Devices worth $335,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ADI. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC increased its stake in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 55 shares during the period. Financial Life Planners acquired a new position in Analog Devices in the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Down 1.2 %

ADI traded down $2.26 during trading on Wednesday, hitting $190.41. The company had a trading volume of 1,334,215 shares, compared to its average volume of 4,146,375. The company has a market capitalization of $94.44 billion, a PE ratio of 60.64, a PEG ratio of 2.85 and a beta of 1.06. The firm's 50-day moving average price is $201.27 and its 200 day moving average price is $212.19. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. 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 released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business's revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.08%. Analog Devices's payout ratio is 126.11%.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, 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. Over the last ninety days, insiders sold 29,809 shares of company stock valued at $6,154,756. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Barclays cut 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. Maxim Group started coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus price target of $250.43.

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.