Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 279,079 shares of the semiconductor company’s stock after selling 13,583 shares during the quarter. Tredje AP fonden owned approximately 0.06% of Analog Devices worth $59,293,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices during the 4th quarter worth about $30,000. Archer Investment Corp boosted its position in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI stock opened at $206.62 on Thursday. The company has a market cap of $102.48 billion, a price-to-earnings ratio of 65.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock has a 50 day simple moving average of $218.37 and a 200-day simple moving average of $220.89. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the business posted $1.73 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts forecast 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 will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

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

Wall Street Analyst Weigh In

ADI has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. UBS Group upped their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Analog Devices Company 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.