Ensign Peak Advisors Inc Buys 48,133 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Ensign Peak Advisors Inc grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,534,654 shares of the semiconductor company’s stock after purchasing an additional 48,133 shares during the quarter. Analog Devices accounts for approximately 0.6% of Ensign Peak Advisors Inc’s holdings, making the stock its 29th biggest position. Ensign Peak Advisors Inc’s holdings in Analog Devices were worth $326,053,000 as of its most recent SEC filing.

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

Insider Activity

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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 a total of 42,934 shares of company stock worth $8,735,156 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on ADI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark lifted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a research report on Wednesday, April 30th. Truist Financial upped their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.43.

Analog Devices Trading Up 1.5 %

Shares of ADI stock opened at $202.78 on Friday. The stock has a fifty day simple moving average of $196.41 and a two-hundred day simple moving average of $210.81. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The firm has a market capitalization of $100.57 billion, a PE ratio of 64.58, a PEG ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

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

Analog Devices declared that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.95%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

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.