Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by PFG Advisors

PFG Advisors lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 12,489 shares of the semiconductor company’s stock after selling 303 shares during the quarter. PFG Advisors’ holdings in Analog Devices were worth $2,653,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ADI. Swedbank AB boosted its holdings in shares of Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Analog Devices by 7.7% in the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock valued at $352,728,000 after purchasing an additional 110,448 shares during the last quarter. United Bank boosted its holdings in shares of Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after purchasing an additional 273 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Analog Devices by 32.5% during the 3rd quarter. Sigma Planning Corp now owns 3,121 shares of the semiconductor company’s stock valued at $718,000 after acquiring an additional 765 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in shares of Analog Devices by 36.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 3,545 shares of the semiconductor company’s stock valued at $816,000 after acquiring an additional 943 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $206.62 on Thursday. 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 fifty-two week low of $182.57 and a fifty-two week high of $247.10. The firm has a 50-day simple moving average of $218.37 and a 200 day simple moving average of $220.89. The company has a market cap of $102.48 billion, a PE ratio of 65.80, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business 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 earned $1.73 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.92%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

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

Analyst Ratings Changes

Several research firms recently weighed in on ADI. Morgan Stanley lifted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Truist Financial lifted their price target 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. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.