1,208 Shares in Analog Devices, Inc. (NASDAQ:ADI) Acquired by Malaga Cove Capital LLC

Malaga Cove Capital LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,208 shares of the semiconductor company's stock, valued at approximately $257,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Analog Devices during the fourth quarter valued at about $1,755,958,000. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices during the fourth quarter valued at about $833,386,000. Proficio Capital Partners LLC lifted its position in shares of Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after purchasing an additional 3,059,349 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock worth $335,933,000 after purchasing an additional 1,186,981 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Analog Devices by 71.0% during the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock worth $458,683,000 after purchasing an additional 896,694 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI traded down $0.01 during mid-day trading on Friday, reaching $227.11. 3,617,772 shares of the company's stock traded hands, compared to its average volume of 3,517,761. The business's 50-day moving average price is $196.58 and its 200-day moving average price is $210.41. The stock has a market capitalization of $112.64 billion, a P/E ratio of 72.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. 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 released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is currently 126.11%.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADI. Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Wells Fargo & Company increased their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Truist Financial increased their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $249.95.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director now owns 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 over the last quarter. 0.33% of the stock is currently owned by company insiders.

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.