Ipsen Advisor Group LLC Purchases New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Ipsen Advisor Group LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,140 shares of the semiconductor company’s stock, valued at approximately $455,000.

A number of other large investors have also modified their holdings of the company. United Bank increased its holdings in Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after acquiring an additional 273 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Analog Devices during the third quarter worth about $210,000. Great Valley Advisor Group Inc. raised its position in shares of Analog Devices by 39.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,018 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 570 shares during the last quarter. Larson Financial Group LLC lifted its stake in Analog Devices by 103.6% in the 3rd quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 228 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Analog Devices by 20.2% in the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock valued at $652,000 after buying an additional 476 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Wells Fargo & Company upped their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Morgan Stanley raised their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Benchmark upped their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six investment 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 a consensus price target of $255.41.

Insiders Place Their Bets

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock valued at $5,082,860 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 0.6 %

NASDAQ ADI opened at $213.58 on Wednesday. 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, Inc. has a one year low of $182.57 and a one year high of $247.10. The firm has a market cap of $105.93 billion, a price-to-earnings ratio of 68.02, a PEG ratio of 2.85 and a beta of 1.07. The firm has a 50 day simple moving average of $217.13 and a 200-day simple moving average of $219.78.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.36 billion. During the same quarter last year, the company earned $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research 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 was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.85%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

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