Heritage Investors Management Corp Buys 313 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Heritage Investors Management Corp boosted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,401 shares of the semiconductor company’s stock after acquiring an additional 313 shares during the period. Heritage Investors Management Corp’s holdings in Analog Devices were worth $1,147,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after buying an additional 853,931 shares during the period. Holocene Advisors LP lifted its stake in Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after buying an additional 823,709 shares during the period. Van ECK Associates Corp lifted its stake in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after buying an additional 700,862 shares during the period. Finally, FMR LLC lifted its stake in Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after buying an additional 665,149 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ADI shares. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Finally, Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Down 4.2 %

Shares of NASDAQ:ADI opened at $223.85 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market capitalization of $111.02 billion, a PE ratio of 71.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The business has a fifty day moving average price of $217.19 and a two-hundred day moving average price of $220.92.

Analog Devices (NASDAQ:ADI) last released 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 for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the firm posted $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.77%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by insiders.

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.