GeoWealth Management LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

GeoWealth Management LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,433 shares of the semiconductor company’s stock after buying an additional 354 shares during the period. GeoWealth Management LLC’s holdings in Analog Devices were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Broderick Brian C grew its stake in Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock valued at $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Curbstone Financial Management Corp bought a new position in shares of Analog Devices during the 4th quarter worth approximately $460,000. Czech National Bank boosted its stake in Analog Devices by 6.5% in the fourth quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after acquiring an additional 6,566 shares in the last quarter. Synergy Asset Management LLC grew its holdings in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock worth $5,404,000 after purchasing an additional 2,554 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Analog Devices during the 3rd quarter valued at $20,194,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction 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, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,809 shares of company stock worth $6,154,756. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Wells Fargo & Company upped their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. UBS Group increased their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $254.05.

Analog Devices Stock Up 0.2 %

Shares of NASDAQ:ADI opened at $176.27 on Monday. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The stock has a market cap of $87.43 billion, a P/E ratio of 56.14, a PEG ratio of 2.85 and a beta of 1.06. The business has a fifty day moving average of $206.00 and a two-hundred day moving average of $214.15. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

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.