ProVise Management Group LLC Sells 493 Shares of Analog Devices, Inc. (NASDAQ:ADI)

ProVise Management Group LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,678 shares of the semiconductor company’s stock after selling 493 shares during the quarter. Analog Devices makes up approximately 1.2% of ProVise Management Group LLC’s holdings, making the stock its 25th biggest position. ProVise Management Group LLC’s holdings in Analog Devices were worth $13,742,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADI. Swedbank AB lifted its holdings in Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after purchasing an additional 180,870 shares in the last quarter. United Bank lifted 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 purchasing an additional 273 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Analog Devices by 2.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company’s stock worth $5,832,000 after purchasing an additional 582 shares in the last quarter. Quest Partners LLC purchased a new position in Analog Devices in the 3rd quarter worth approximately $210,000. Finally, Pathstone Holdings LLC lifted its holdings in Analog Devices by 1.5% in the 3rd quarter. Pathstone Holdings LLC now owns 71,981 shares of the semiconductor company’s stock worth $16,568,000 after purchasing an additional 1,050 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $209.16 on Wednesday. The stock’s fifty day moving average is $217.83 and its two-hundred day moving average is $220.22. The company has a market capitalization of $103.74 billion, a PE ratio of 66.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI) last announced 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. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 EPS. As a group, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has initiated 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 reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Analyst Ratings Changes

A number of research analysts recently commented on ADI shares. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Truist Financial upped their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. upped their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.