Sage Mountain Advisors LLC Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Sage Mountain Advisors LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,614 shares of the semiconductor company’s stock after acquiring an additional 156 shares during the period. Sage Mountain Advisors LLC’s holdings in Analog Devices were worth $555,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the third quarter worth approximately $28,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter valued at approximately $30,000. Archer Investment Corp lifted its holdings 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 buying an additional 73 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADI shares. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Truist Financial boosted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Six 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, the company 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 firm’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 owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Down 3.3 %

Shares of Analog Devices stock opened at $209.08 on Wednesday. The company has a 50-day simple moving average of $218.49 and a two-hundred day simple moving average of $220.99. The stock has a market capitalization of $103.70 billion, a PE ratio of 66.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business earned $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal 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 issued a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices declared that its board has initiated a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is 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.