OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 3,000 Shares of Analog Devices, Inc. (NASDAQ:ADI)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 60.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the semiconductor company’s stock after acquiring an additional 3,000 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Analog Devices were worth $1,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Obermeyer Wealth Partners lifted its position in Analog Devices by 0.9% during the fourth quarter. Obermeyer Wealth Partners now owns 9,658 shares of the semiconductor company’s stock valued at $2,052,000 after buying an additional 87 shares during the period. Maytus Capital Management LLC purchased a new position in Analog Devices during the fourth quarter valued at $12,748,000. Meridiem Capital Partners LP purchased a new position in Analog Devices during the fourth quarter valued at $22,994,000. Minot DeBlois Advisors LLC purchased a new position in Analog Devices during the fourth quarter valued at $823,000. Finally, LMR Partners LLP lifted its position in Analog Devices by 663.2% during the fourth quarter. LMR Partners LLP now owns 35,000 shares of the semiconductor company’s stock valued at $7,436,000 after buying an additional 30,414 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.6%

Analog Devices stock opened at $226.68 on Wednesday. The business has a 50-day simple moving average of $195.99 and a two-hundred day simple moving average of $210.52. The company has a market cap of $112.43 billion, a P/E ratio of 72.19, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly 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. The business had revenue of $2.42 billion during 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 business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid 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 1.75%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Insider Activity

In other news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 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 have sold a total of 42,934 shares of company stock valued at $8,735,156 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several recent analyst reports. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Wells Fargo & Company lifted their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Barclays lowered their price target on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $250.20.

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.