LGT Group Foundation Sells 1,336 Shares of Analog Devices, Inc. (NASDAQ:ADI)

LGT Group Foundation trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 57.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 987 shares of the semiconductor company’s stock after selling 1,336 shares during the period. LGT Group Foundation’s holdings in Analog Devices were worth $210,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Analog Devices in the fourth quarter valued at about $393,000. Jones Financial Companies Lllp increased its stake in shares of Analog Devices by 27.4% in the 4th quarter. Jones Financial Companies Lllp now owns 104,908 shares of the semiconductor company’s stock valued at $22,289,000 after acquiring an additional 22,533 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $227,000. SRS Capital Advisors Inc. boosted its stake in Analog Devices by 28.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 393 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 88 shares during the last quarter. Finally, Norden Group LLC grew its holdings in Analog Devices by 4.3% during the fourth quarter. Norden Group LLC now owns 2,456 shares of the semiconductor company’s stock valued at $522,000 after purchasing an additional 101 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $226.18 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. The stock has a 50 day moving average price of $217.98 and a 200 day moving average price of $221.16. The stock has a market capitalization of $112.18 billion, a PE ratio of 72.03, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.75%. 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. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. Maxim Group initiated 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 target price on Analog Devices in a report on Friday, February 14th. Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial lifted 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. Finally, Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Company 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.