Evoke Wealth LLC Has $7.22 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Evoke Wealth LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the fourth quarter, HoldingsChannel reports. The fund owned 34,001 shares of the semiconductor company’s stock after selling 1,540 shares during the quarter. Evoke Wealth LLC’s holdings in Analog Devices were worth $7,224,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in Analog Devices during the fourth quarter worth $30,000. Mainstream Capital Management LLC bought a new position in shares of Analog Devices during the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC grew its position in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Up 1.4 %

Shares of NASDAQ:ADI opened at $211.68 on Tuesday. The firm has a fifty day moving average price of $217.96 and a two-hundred day moving average price of $220.40. The company has a market cap of $104.99 billion, a price-to-earnings ratio of 67.41, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. 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 annualized dividend and a yield of 1.87%. Analog Devices’s payout ratio is presently 126.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADI. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.