Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the fourth quarter, Holdings Channel reports. The firm owned 20,444 shares of the semiconductor company’s stock after selling 492 shares during the quarter. Private Advisor Group LLC’s holdings in Analog Devices were worth $4,344,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. Bank of Hawaii grew its holdings in shares of Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares in the last quarter. MONECO Advisors LLC boosted its position in Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after acquiring an additional 50 shares during the last quarter. Amarillo National Bank grew its stake in Analog Devices by 3.6% in the 3rd quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after acquiring an additional 54 shares during the period. NTV Asset Management LLC grew its stake in Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 54 shares during the period. Finally, West Oak Capital LLC raised its holdings in Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of ADI stock opened at $238.91 on Friday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a market capitalization of $118.49 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $215.50 and a 200-day simple moving average of $220.34.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating 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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the company posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices declared that its board has approved a share repurchase 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. 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 1.66%. Analog Devices’s payout ratio is currently 117.20%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADI. Piper Sandler lowered their price objective 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. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday. TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. UBS Group boosted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday. Finally, Benchmark increased their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target 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.