Analog Devices, Inc. (NASDAQ:ADI) Position Increased by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,337 shares of the semiconductor company’s stock after purchasing an additional 463 shares during the period. First Horizon Advisors Inc.’s holdings in Analog Devices were worth $1,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the 3rd quarter worth about $28,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners bought a new position in Analog Devices during the fourth quarter valued at approximately $33,000. Kestra Investment Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. acquired a new stake in Analog Devices in the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Piper Sandler dropped their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday. Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley raised their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 2.0 %

Shares of ADI opened at $238.91 on Monday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The firm has a market capitalization of $118.49 billion, a P/E ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04. The company has a 50-day simple moving average of $215.50 and a 200-day simple moving average of $220.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company earned $1.73 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is currently 117.20%.

Analog Devices announced that its Board of Directors has authorized 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 usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

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.