LMR Partners LLP Acquires 30,414 Shares of Analog Devices, Inc. (NASDAQ:ADI)

LMR Partners LLP increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 663.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,000 shares of the semiconductor company’s stock after buying an additional 30,414 shares during the quarter. LMR Partners LLP’s holdings in Analog Devices were worth $7,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ADI. Vanguard Group Inc. lifted its position in shares of Analog Devices by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock worth $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. Geode Capital Management LLC increased its holdings in Analog Devices by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock valued at $2,248,971,000 after purchasing an additional 247,737 shares during the last quarter. Norges Bank acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $1,755,958,000. FMR LLC raised its holdings in Analog Devices by 0.8% in the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock worth $1,582,831,000 after purchasing an additional 61,390 shares during the period. Finally, Northern Trust Corp lifted its holdings in Analog Devices by 8.4% during the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company’s stock worth $1,173,026,000 after acquiring an additional 427,328 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ADI. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Seaport Res Ptn raised Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. UBS Group decreased their target price on Analog Devices from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $250.19.

Analog Devices Stock Up 7.5%

ADI stock opened at $223.15 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average is $195.91 and its 200-day moving average is $210.40. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The firm has a market capitalization of $110.68 billion, a PE ratio of 71.07, a P/E/G ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio is currently 126.11%.

Analog Devices announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding 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 often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,934 shares of company stock valued at $8,735,156. Company insiders own 0.33% of the company’s stock.

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.