DRW Securities LLC Buys 2,597 Shares of Analog Devices, Inc. (NASDAQ:ADI)

DRW Securities LLC raised its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 193.5% in the 4th quarter, Holdings Channel reports. The firm owned 3,939 shares of the semiconductor company’s stock after acquiring an additional 2,597 shares during the period. DRW Securities LLC’s holdings in Analog Devices were worth $837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Analog Devices by 16.6% during the 3rd quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company’s stock valued at $9,978,000 after buying an additional 6,164 shares in the last quarter. Vestcor Inc raised its position in shares of Analog Devices by 4.4% during the 3rd quarter. Vestcor Inc now owns 9,762 shares of the semiconductor company’s stock valued at $2,247,000 after buying an additional 408 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Analog Devices during the 3rd quarter valued at about $276,000. Toronto Dominion Bank raised its position in shares of Analog Devices by 47.9% during the 3rd quarter. Toronto Dominion Bank now owns 273,736 shares of the semiconductor company’s stock valued at $63,006,000 after buying an additional 88,592 shares in the last quarter. Finally, Fortem Financial Group LLC raised its position in shares of Analog Devices by 39.3% during the 3rd quarter. Fortem Financial Group LLC now owns 6,281 shares of the semiconductor company’s stock valued at $1,446,000 after buying an additional 1,771 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,684 shares of company stock worth $5,591,600 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $196.63 on Thursday. 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 firm’s 50 day moving average price is $209.97 and its 200-day moving average price is $216.71. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a market cap of $97.52 billion, a PE ratio of 62.62, a P/E/G ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm earned $1.73 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.01%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. UBS Group increased their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Morgan Stanley increased their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company increased their price objective 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. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.