Mesirow Financial Investment Management Inc. Sells 152 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Mesirow Financial Investment Management Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 7.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,829 shares of the semiconductor company’s stock after selling 152 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Analog Devices were worth $389,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ADI. Raymond James Financial Inc. acquired a new position in shares of Analog Devices in the fourth quarter valued at about $833,386,000. Proficio Capital Partners LLC grew its stake in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after acquiring an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADI has been the topic of several research reports. TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Truist Financial increased their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Barclays reduced their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insiders Place Their Bets

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 shares were 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 owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Up 1.4 %

Analog Devices stock opened at $225.86 on Friday. 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 52-week low of $182.57 and a 52-week high of $247.10. The firm has a 50 day moving average price of $218.48 and a two-hundred day moving average price of $221.21. The firm has a market cap of $112.02 billion, a price-to-earnings ratio of 71.93, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared 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. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.75%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.