Argus Investors Counsel Inc. Buys 2,757 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Argus Investors Counsel Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 28.3% during the fourth quarter, Holdings Channel reports. The firm owned 12,511 shares of the semiconductor company’s stock after purchasing an additional 2,757 shares during the period. Analog Devices makes up approximately 1.6% of Argus Investors Counsel Inc.’s portfolio, making the stock its 16th largest position. Argus Investors Counsel Inc.’s holdings in Analog Devices were worth $2,484,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in Analog Devices by 1.2% during the first quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock worth $4,024,078,000 after acquiring an additional 238,249 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares during the period. Invesco Ltd. lifted its holdings in Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after acquiring an additional 701,367 shares during the period. Norges Bank bought a new stake in Analog Devices during the fourth quarter worth $1,040,194,000. Finally, Morgan Stanley lifted its holdings in Analog Devices by 16.1% during the fourth quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after acquiring an additional 830,281 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a 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 dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 over the last 90 days. Insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $204.12 on Wednesday. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The business has a 50-day simple moving average of $193.03 and a 200 day simple moving average of $185.76. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The stock has a market cap of $101.23 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 4.89 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business earned $2.75 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis. On average, research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a 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 payout ratio is presently 65.83%.

Analyst Ratings Changes

A number of analysts have issued reports on ADI shares. KeyCorp raised their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Morgan Stanley reissued an “overweight” rating and issued a $212.00 target price (down from $219.00) on shares of Analog Devices in a research report on Thursday, February 22nd. Truist Financial decreased their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Barclays raised their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Finally, Edward Jones raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.26.

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.