Wintrust Investments LLC Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Wintrust Investments LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 214.6% in the fourth quarter, HoldingsChannel reports. The firm owned 302 shares of the semiconductor company’s stock after acquiring an additional 206 shares during the period. Wintrust Investments LLC’s holdings in Analog Devices were worth $64,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Archer Investment Corp grew its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the period. Financial Life Planners purchased a new stake in Analog Devices in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI stock opened at $203.80 on Friday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market capitalization of $101.08 billion, a P/E ratio of 64.90, a P/E/G ratio of 2.85 and a beta of 1.07. The company’s fifty day moving average price is $218.22 and its two-hundred day moving average price is $220.78.

Analog Devices (NASDAQ:ADI) last issued 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 net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.94%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ADI shares. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Morgan Stanley lifted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.41.

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.