Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,270 shares of the semiconductor company’s stock after selling 181 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Analog Devices were worth $671,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Analog Devices in the fourth quarter valued at $393,000. Jones Financial Companies Lllp increased its position in shares of Analog Devices by 27.4% in the 4th quarter. Jones Financial Companies Lllp now owns 104,908 shares of the semiconductor company’s stock worth $22,289,000 after purchasing an additional 22,533 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $227,000. SRS Capital Advisors Inc. lifted its position in shares of Analog Devices by 28.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 393 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 88 shares during the last quarter. Finally, Norden Group LLC grew its stake in Analog Devices by 4.3% in the fourth quarter. Norden Group LLC now owns 2,456 shares of the semiconductor company’s stock worth $522,000 after purchasing an additional 101 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Lake Street Capital assumed coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Benchmark lifted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. UBS Group increased their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred 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 directly owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $228.53 on Tuesday. 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 $113.35 billion, a PE ratio of 72.78, a P/E/G ratio of 2.85 and a beta of 1.04. The firm has a 50-day moving average price of $217.82 and a 200 day moving average price of $221.14. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.73 earnings per share. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.73%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices declared that its board has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.