Oppenheimer & Co. Inc. Boosts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Oppenheimer & Co. Inc. increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,017 shares of the semiconductor company’s stock after buying an additional 7,122 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Analog Devices were worth $11,264,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter valued at about $28,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners acquired a new stake in Analog Devices during the 4th quarter worth $33,000. Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth about $41,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices in the 3rd quarter valued at about $43,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADI shares. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Morgan Stanley lifted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six investment 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, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Trading Down 4.2 %

NASDAQ:ADI opened at $223.85 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 quick ratio of 1.43 and a current ratio of 1.93. The stock has a fifty day moving average price of $217.19 and a two-hundred day moving average price of $220.92. The stock has a market capitalization of $111.02 billion, a price-to-earnings ratio of 71.29, a PEG ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted 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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company posted $1.73 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is 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 given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices 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.