ProShare Advisors LLC Has $161.43 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

ProShare Advisors LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,813 shares of the semiconductor company’s stock after buying an additional 107,817 shares during the period. ProShare Advisors LLC owned about 0.15% of Analog Devices worth $161,430,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter valued at about $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices during the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in 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 last quarter. Financial Life Planners acquired a new position in Analog Devices during the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADI shares. UBS Group reduced their price target on shares of Analog Devices from $300.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company boosted their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $250.20.

Analog Devices Price Performance

Analog Devices stock opened at $226.82 on Thursday. The stock’s 50 day moving average is $196.01 and its 200 day moving average is $210.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market cap of $112.50 billion, a P/E ratio of 72.24, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10.

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, beating 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 for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

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 is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock worth $8,735,156 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

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.