Mizuho Securities USA LLC Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Mizuho Securities USA LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 46.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,056 shares of the semiconductor company’s stock after buying an additional 14,879 shares during the quarter. Mizuho Securities USA LLC’s holdings in Analog Devices were worth $9,998,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in Analog Devices in the 4th quarter worth about $30,000. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC grew its stake in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices during the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $5,082,860 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of a number of recent research reports. Maxim Group initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Benchmark boosted their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Down 0.7 %

NASDAQ ADI opened at $204.40 on Friday. The stock’s 50 day moving average is $217.17 and its 200 day moving average is $219.84. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The stock has a market cap of $101.38 billion, a PE ratio of 65.10, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm earned $1.73 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.94%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio is 126.11%.

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.