Allspring Global Investments Holdings LLC Purchases 89,504 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Allspring Global Investments Holdings LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 31.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373,625 shares of the semiconductor company's stock after purchasing an additional 89,504 shares during the period. Allspring Global Investments Holdings LLC owned about 0.08% of Analog Devices worth $74,187,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADI. Markel Corp grew its position in Analog Devices by 1.4% in the first quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company's stock worth $178,034,000 after acquiring an additional 15,150 shares in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Analog Devices during the 1st quarter worth $82,000. United Bank grew its stake in Analog Devices by 24.7% in the 1st quarter. United Bank now owns 6,647 shares of the semiconductor company's stock valued at $1,098,000 after buying an additional 1,315 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Analog Devices by 34.7% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company's stock worth $264,000 after acquiring an additional 412 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Analog Devices by 14.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company's stock worth $19,175,000 after acquiring an additional 14,718 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other news, Director James Champy sold 1,228 shares of the firm's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company's stock, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company's stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock worth $4,825,113 in the last quarter. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. KeyCorp increased their target price on Analog Devices from $220.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Oppenheimer reiterated an "outperform" rating and set a $215.00 target price on shares of Analog Devices in a research note on Thursday, February 22nd. The Goldman Sachs Group increased their price target on shares of Analog Devices from $191.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 22nd. Finally, Edward Jones upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Friday, December 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $206.26.

Analog Devices Price Performance

Shares of ADI traded down $7.79 during mid-day trading on Wednesday, hitting $196.33. 4,517,689 shares of the company traded hands, compared to its average volume of 3,375,906. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $97.36 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 4.93 and a beta of 1.17. The business has a 50-day moving average of $193.11 and a 200 day moving average of $185.84. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.02. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business's quarterly revenue was down 22.7% compared to the same quarter last year. During the same period last year, the company earned $2.75 EPS. As a group, equities analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. Analog Devices's dividend payout ratio is presently 65.83%.

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.