Van ECK Associates Corp Buys 358,697 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Van ECK Associates Corp boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,890,824 shares of the semiconductor company’s stock after purchasing an additional 358,697 shares during the period. Analog Devices comprises 1.0% of Van ECK Associates Corp’s holdings, making the stock its 20th biggest holding. Van ECK Associates Corp owned approximately 0.58% of Analog Devices worth $574,002,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. purchased a new stake in shares of Analog Devices during the fourth quarter valued at $1,152,000. Sequoia Financial Advisors LLC boosted its position in Analog Devices by 107.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after buying an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC grew its stake in Analog Devices by 37.5% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after acquiring an additional 2,215 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Analog Devices by 4.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after acquiring an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Analog Devices by 31.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after acquiring an additional 89,504 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their price objective on 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 restated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. KeyCorp increased their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price target for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Stock Performance

NASDAQ:ADI traded up $1.93 during trading hours on Monday, hitting $203.90. 2,288,168 shares of the company were exchanged, compared to its average volume of 3,380,605. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $204.20. The stock has a market capitalization of $101.12 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 5.07 and a beta of 1.17. The company’s 50 day moving average price is $193.45 and its 200-day moving average price is $187.44.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.75 earnings per share. As a group, research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current 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 $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,825,113 over the last quarter. Insiders own 0.31% of the company’s stock.

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.