Bradley Foster & Sargent Inc. CT Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bradley Foster & Sargent Inc. CT increased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 321,407 shares of the semiconductor company’s stock after purchasing an additional 8,323 shares during the period. Analog Devices accounts for 1.1% of Bradley Foster & Sargent Inc. CT’s holdings, making the stock its 26th biggest holding. Bradley Foster & Sargent Inc. CT’s holdings in Analog Devices were worth $68,286,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares in the last quarter. Swiss National Bank grew its holdings in Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after purchasing an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp acquired a new stake in shares of Analog Devices in the 4th quarter worth $460,000. Finally, Summit Global Investments acquired a new stake in shares of Analog Devices in the 3rd quarter worth $867,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Up 0.9 %

Shares of Analog Devices stock opened at $243.82 on Friday. The firm has a 50-day simple moving average of $215.06 and a two-hundred day simple moving average of $219.97. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a market cap of $120.96 billion, a P/E ratio of 74.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company 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 9.01% and a net margin of 17.35%. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 earnings per share. As a group, equities analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually 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 will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 111.85%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Benchmark raised their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer reissued an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday. Finally, Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.19.

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.