Wilkinson Global Asset Management LLC Sells 465 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wilkinson Global Asset Management LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 199,431 shares of the semiconductor company’s stock after selling 465 shares during the quarter. Analog Devices comprises about 2.6% of Wilkinson Global Asset Management LLC’s portfolio, making the stock its 17th largest holding. Wilkinson Global Asset Management LLC’s holdings in Analog Devices were worth $42,371,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADI. Morgan Stanley decreased their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Piper Sandler reduced their target price 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. Benchmark initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating and a $245.00 price target for the company. Finally, Truist Financial boosted their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $248.52.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’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 sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Analog Devices stock opened at $220.22 on Wednesday. The firm has a 50-day moving average of $214.04 and a two-hundred day moving average of $219.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The stock has a market cap of $109.25 billion, a price-to-earnings ratio of 66.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. On average, research analysts forecast 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. Stockholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.80%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 111.85%.

Analog Devices announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Analog Devices 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.