Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Investment House LLC

Investment House LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 54.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,063 shares of the semiconductor company’s stock after selling 7,322 shares during the period. Investment House LLC’s holdings in Analog Devices were worth $1,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADI. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices during the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Financial Life Planners acquired a new stake in Analog Devices during the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices during the fourth quarter valued at approximately $41,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

Shares of ADI opened at $209.16 on Wednesday. The company’s fifty day moving average is $217.83 and its 200-day moving average is $220.22. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The firm has a market cap of $103.74 billion, a price-to-earnings 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 (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 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 company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business posted $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.89%. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Truist Financial upped 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. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.