Great Lakes Retirement Inc. Increases Position in Analog Devices, Inc. (NASDAQ:ADI)

Great Lakes Retirement Inc. raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 26.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,048 shares of the semiconductor company’s stock after acquiring an additional 2,512 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Analog Devices were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Analog Devices by 0.7% during the 2nd quarter. BlackRock Inc. now owns 40,771,080 shares of the semiconductor company’s stock valued at $7,942,614,000 after acquiring an additional 266,357 shares in the last quarter. State Street Corp grew its holdings in shares of Analog Devices by 1.6% during the second quarter. State Street Corp now owns 20,724,346 shares of the semiconductor company’s stock worth $4,037,310,000 after buying an additional 320,338 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Analog Devices during the fourth quarter worth about $1,040,194,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Up 2.3 %

Shares of ADI traded up $4.37 during mid-day trading on Wednesday, reaching $193.33. 2,410,285 shares of the stock traded hands, compared to its average volume of 3,447,762. The firm has a market cap of $95.87 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 4.78 and a beta of 1.17. The stock has a fifty day simple moving average of $192.77 and a 200 day simple moving average of $184.40. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $202.77. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.75 earnings per share. Sell-side analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold 21,228 shares of company stock worth $4,134,502 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ADI. Morgan Stanley reiterated an “overweight” rating and set a $212.00 price target (down from $219.00) on shares of Analog Devices in a report on Thursday, February 22nd. Barclays lifted their price target on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target for the company. in a report on Thursday, January 4th. Finally, Truist Financial decreased their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.26.

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.