Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,196 shares of the semiconductor company’s stock after buying an additional 1,132 shares during the quarter. Metis Global Partners LLC’s holdings in Analog Devices were worth $6,415,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $28,000. Archer Investment Corp lifted its holdings 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 period. Financial Life Planners acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $43,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

ADI stock opened at $229.82 on Friday. The stock has a 50-day moving average price of $217.55 and a two-hundred day moving average price of $221.05. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market cap of $113.99 billion, a PE ratio of 73.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Insider Buying and Selling

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 sale, the chief executive officer now 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Benchmark lifted their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Morgan Stanley lifted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Finally, TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

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.