Borer Denton & Associates Inc. Acquires 334 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Borer Denton & Associates Inc. grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,145 shares of the semiconductor company’s stock after buying an additional 334 shares during the quarter. Analog Devices accounts for approximately 0.9% of Borer Denton & Associates Inc.’s portfolio, making the stock its 26th largest holding. Borer Denton & Associates Inc.’s holdings in Analog Devices were worth $2,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Analog Devices in the fourth quarter worth about $833,386,000. Proficio Capital Partners LLC increased its position in shares of Analog Devices by 22,005.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after acquiring an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. raised 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position 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 valued at $220,891,000 after acquiring an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,000 shares of company stock valued at $5,082,860. 0.33% of the stock is currently owned by insiders.

Analog Devices Trading Up 0.6 %

Shares of Analog Devices stock opened at $213.58 on Wednesday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month 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. The business has a 50-day moving average price of $217.13 and a 200-day moving average price of $219.78. The firm has a market cap of $105.93 billion, a price-to-earnings ratio of 68.02, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company earned $1.73 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate 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 shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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 issued a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.85%. Analog Devices’s payout ratio is 126.11%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADI shares. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. UBS Group boosted their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Morgan Stanley lifted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $270.00 price target (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.