Kestra Investment Management LLC Buys New Stake in Analog Devices, Inc. (NASDAQ:ADI)

Kestra Investment Management LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, HoldingsChannel.com reports. The firm bought 191 shares of the semiconductor company’s stock, valued at approximately $41,000.

Several other large investors have also recently made changes to their positions in ADI. Franklin Resources Inc. increased its holdings in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after acquiring an additional 853,931 shares in the last quarter. Holocene Advisors LP increased its holdings in Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after acquiring an additional 823,709 shares in the last quarter. Van ECK Associates Corp increased its holdings in Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares in the last quarter. Finally, FMR LLC increased its holdings in Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Down 2.0 %

NASDAQ ADI opened at $238.91 on Friday. The stock has a market capitalization of $118.52 billion, a P/E ratio of 76.09, a PEG ratio of 2.76 and a beta of 1.04. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35. The firm’s 50-day moving average is $215.50 and its two-hundred day moving average is $220.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.11 earnings per share for the current year.

Analog Devices announced that its board has authorized a share buyback 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 board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is currently 126.11%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Barclays lowered their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $255.19.

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.