Thrivent Financial for Lutherans Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Thrivent Financial for Lutherans raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,883 shares of the semiconductor company’s stock after buying an additional 547 shares during the period. Thrivent Financial for Lutherans’ holdings in Analog Devices were worth $5,531,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADI. United Bank lifted its position in Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after buying an additional 273 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Analog Devices during the third quarter worth approximately $210,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Analog Devices by 7.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 29,815 shares of the semiconductor company’s stock worth $6,862,000 after acquiring an additional 2,165 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Analog Devices by 39.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,018 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 570 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Analog Devices by 103.6% during the 3rd quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 228 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $212.34 on Tuesday. The company has a 50 day simple moving average of $217.16 and a two-hundred day simple moving average of $219.78. 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 capitalization of $105.32 billion, a price-to-earnings ratio of 67.62, a P/E/G ratio of 2.85 and a beta of 1.07. 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 posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices announced that its board has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. 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 research report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Finally, TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Activity at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 approximately $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,000 shares of company stock valued at $5,082,860. 0.33% of the stock is owned by corporate insiders.

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.