Epoch Investment Partners Inc. Has $111.11 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)
Epoch Investment Partners Inc. has adjusted its holdings in Analog Devices, Inc. (NASDAQ:ADI), as reported in the company’s latest filing with the Securities & Exchange Commission. The institutional investor reduced its shares in the semiconductor company by 9.9% during the 4th quarter. After selling 57,687 shares in this period, Epoch Investment Partners Inc. now holds 522,983 shares of Analog Devices, equivalent to 0.11% of the company, valued at $111,113,000 according to their latest SEC filing.
Several other hedge funds and institutional investors have also modified their stakes in Analog Devices. Midwest Professional Planners LTD. slightly increased its holdings by 0.6%, bringing its total to 9,296 shares, valued at $1,975,000 after an additional 53 shares were purchased last quarter. Similarly, Portland Global Advisors LLC increased its stake by 1.3%, now owning 4,014 shares valued at $853,000. NTV Asset Management LLC lifted its position by 2.7%, holding 2,063 shares valued at $438,000. West Oak Capital LLC also expanded its holdings by 0.4%, possessing 12,509 shares worth $2,658,000. Notably, Cassady Schiller Wealth Management LLC significantly increased its stake by 63.2%, now holding 142 shares valued at $30,000. Overall, 86.81% of Analog Devices is owned by hedge funds and institutional investors.
On the stock market, ADI opened at $176.27 on Friday. The company boasts a current ratio of 1.93, a quick ratio of 1.43, and a commendable debt-to-equity ratio of 0.19. With a market capitalization of $87.43 billion, Analog Devices features a price-to-earnings ratio of 56.14, a PEG ratio of 2.85, and a beta of 1.06. The stock’s 50-day moving average is $206.00, while its 200-day moving average stands at $214.33. Over the past year, the stock has seen a low of $158.65 and reached a high of $247.10.
In its recent quarterly earnings announcement on February 19th, Analog Devices reported earnings per share (EPS) of $1.63, surpassing the consensus estimates of $1.54. The company achieved a return on equity of 8.91% and a net margin of 16.75%. Revenue for the quarter was $2.42 billion, slightly ahead of analyst predictions of $2.36 billion. However, this was a 3.6% decrease from the same period last year. Analysts predict Analog Devices will post an EPS of 7.14 for the current fiscal year.
The company’s Board of Directors has authorized a stock repurchase plan, allowing Analog Devices to buy back up to $10.00 billion in shares, which amounts to around 9.2% of the company’s shares available through open market purchases—a sign of the leadership’s confidence in the company’s valuation.
Recently, Analog Devices also declared a quarterly dividend, paid on March 17th. Stockholders of record as of March 4th received a dividend of $0.99, showing an increase from the previous $0.92, leading to a $3.96 annualized dividend with a yield of 2.25%. This moves the dividend payout ratio (DPR) to 126.11%.
In insider transactions, CEO Vincent Roche sold 10,000 shares at an average price of $209.12, totaling $2,091,200. Post-transaction, Roche directly owns 64,918 shares valued at approximately $13,575,652.16, signaling a 13.35% decrease in position. Executive Vice President Vivek Jain sold 12,684 shares at an average price of $210.00, for a total of $2,663,640, decreasing his holding by 22.71% to 43,175 shares. Over the past ninety days, insiders sold 29,809 shares valued at $6,154,756. Insiders currently own 0.33% of the company’s stock.
Various research firms have issued their evaluations of ADI. Morgan Stanley raised its target price to $250.00 with an “overweight” rating, while Barclays lowered its price target to $210.00 with an “equal weight” rating. Truist Financial increased its price objective to $248.00, assigning a “hold” rating, and JPMorgan Chase & Co. reached a price target of $300.00 with an “overweight” stance. Wells Fargo & Company set the price objective at $240.00, maintaining an “equal weight” rating. In all, six analysts have given a hold rating, while seventeen have recommended buying the stock. The average rating is “Moderate Buy” with a price target of $254.05.
Analog Devices, Inc. designs and manufactures integrated circuits (ICs), software, and subsystems products globally. Their offerings include data converter products to transform analog signals into digital data and vice versa, as well as power management products for various applications such as power conversion and energy management across several markets, including automotive, communications, industrial, and consumer sectors.
As Analog Devices continues to navigate the complexities of the semiconductor industry, its financial strategies, including stock repurchases and dividend adjustments, reflect a confident approach to sustaining shareholder value and addressing market demands.
