Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Lindbrook Capital LLC

Lindbrook Capital LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,243 shares of the semiconductor company’s stock after acquiring an additional 65 shares during the quarter. Lindbrook Capital LLC’s holdings in Analog Devices were worth $1,114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices during the 4th quarter worth about $833,386,000. First Business Financial Services Inc. grew its position in Analog Devices by 3.2% in the 4th quarter. First Business Financial Services Inc. now owns 13,224 shares of the semiconductor company’s stock valued at $2,810,000 after acquiring an additional 407 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in Analog Devices by 2.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 79,914 shares of the semiconductor company’s stock valued at $16,979,000 after acquiring an additional 2,226 shares in the last quarter. Arizona State Retirement System grew its position in Analog Devices by 0.9% in the 4th quarter. Arizona State Retirement System now owns 143,389 shares of the semiconductor company’s stock valued at $30,464,000 after acquiring an additional 1,212 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Analog Devices by 4.0% in the 4th quarter. Proficio Capital Partners LLC now owns 14,465 shares of the semiconductor company’s stock valued at $3,073,000 after buying an additional 562 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of NASDAQ:ADI opened at $229.47 on Thursday. The firm has a market capitalization of $113.81 billion, a PE ratio of 73.08, a P/E/G ratio of 2.85 and a beta of 1.07. 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 business has a 50-day moving average of $218.21 and a two-hundred day moving average of $221.22. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its earnings results 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 return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated 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 owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $255.41.

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.