Atlas Legacy Advisors LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Atlas Legacy Advisors LLC acquired a new position in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,502 shares of the semiconductor company’s stock, valued at approximately $744,000.

A number of other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the 3rd quarter valued at approximately $28,000. Archer Investment Corp increased its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners bought a new position in shares of Analog Devices during the 4th quarter valued at approximately $33,000. Kestra Investment Management LLC bought a new position in shares of Analog Devices during the 4th quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Analog Devices during the 3rd quarter valued at approximately $43,000. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was 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 directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial boosted their target price on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Finally, Barclays cut their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.52.

Analog Devices Price Performance

Shares of ADI stock opened at $220.22 on Wednesday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The stock has a market capitalization of $109.25 billion, a price-to-earnings ratio of 66.94, a P/E/G ratio of 2.38 and a beta of 1.04. The stock has a fifty day simple moving average of $214.04 and a two-hundred day simple moving average of $219.65. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 EPS. On average, analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.80%. Analog Devices’s dividend payout ratio is 111.85%.

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.