Harbour Investments Inc. Purchases 95 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Harbour Investments Inc. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,128 shares of the semiconductor company’s stock after buying an additional 95 shares during the quarter. Harbour Investments Inc.’s holdings in Analog Devices were worth $240,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Corient Private Wealth LLC raised its position in shares of Analog Devices by 62.3% during the 4th quarter. Corient Private Wealth LLC now owns 966,530 shares of the semiconductor company’s stock valued at $204,982,000 after purchasing an additional 370,933 shares during the period. one8zero8 LLC bought a new stake in Analog Devices during the fourth quarter valued at about $1,958,000. Choate Investment Advisors lifted its position in shares of Analog Devices by 2.3% in the fourth quarter. Choate Investment Advisors now owns 13,531 shares of the semiconductor company’s stock valued at $2,875,000 after acquiring an additional 304 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Analog Devices by 3.7% in the fourth quarter. Natixis Advisors LLC now owns 791,641 shares of the semiconductor company’s stock worth $168,192,000 after acquiring an additional 28,169 shares during the period. Finally, Zevin Asset Management LLC raised its stake in Analog Devices by 9.3% during the 4th quarter. Zevin Asset Management LLC now owns 101,680 shares of the semiconductor company’s stock valued at $21,603,000 after purchasing an additional 8,692 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADI shares. Lake Street Capital started coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Wells Fargo & Company raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. UBS Group lifted their target price on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Morgan Stanley boosted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ ADI opened at $204.40 on Friday. 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 has a market capitalization of $101.38 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 2.85 and a beta of 1.07. The stock has a 50 day moving average price of $217.17 and a 200 day moving average price of $219.84. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10.

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 during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.94%. Analog Devices’s payout ratio is 126.11%.

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

Insider Buying and Selling

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $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 24,000 shares of company stock valued at $5,082,860 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.