Lansing Street Advisors Purchases Shares of 1,161 Analog Devices, Inc. (NASDAQ:ADI)

Lansing Street Advisors purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, Holdings Channel.com reports. The firm purchased 1,161 shares of the semiconductor company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ADI. Charles Schwab Investment Management Inc. boosted its stake in shares of Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank boosted its stake in shares of Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares during the period. Curbstone Financial Management Corp purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $460,000. Finally, Summit Global Investments purchased a new stake in shares of Analog Devices during the third quarter valued at approximately $867,000. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley raised their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. Lake Street Capital assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Benchmark raised their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday. Finally, TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $238.91 on Friday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35. The business has a fifty day moving average price of $215.50 and a 200-day moving average price of $220.34. The company has a market capitalization of $118.49 billion, a PE ratio of 76.09, a PEG ratio of 2.60 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned $1.73 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices announced that its board has approved a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is presently 117.20%.

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.