NewEdge Wealth LLC Has $1.91 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

NewEdge Wealth LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,974 shares of the semiconductor company’s stock after selling 1,223 shares during the quarter. NewEdge Wealth LLC’s holdings in Analog Devices were worth $1,907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Analog Devices during the third quarter worth $28,000. Archer Investment Corp increased its holdings 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 worth $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners acquired a new position in shares of Analog Devices during the fourth quarter valued at about $33,000. Kestra Investment Management LLC bought a new stake in shares of Analog Devices in the fourth quarter valued at about $41,000. Finally, Peterson Financial Group Inc. acquired a new stake in Analog Devices during the third quarter worth about $43,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ADI. Morgan Stanley upped their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Price Performance

Analog Devices stock opened at $229.82 on Friday. The stock has a market cap of $113.99 billion, a price-to-earnings ratio of 73.19, a P/E/G ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $217.55 and its 200 day simple moving average is $221.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results 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 return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts anticipate 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 plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

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.