Quadrant Capital Group LLC Sells 425 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Quadrant Capital Group LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,712 shares of the semiconductor company’s stock after selling 425 shares during the period. Quadrant Capital Group LLC’s holdings in Analog Devices were worth $1,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the 4th quarter valued at about $30,000. Mainstream Capital Management LLC acquired a new position in shares of Analog Devices during the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC raised its position in shares of Analog Devices by 63.2% in the 4th 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 in the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter worth approximately $41,000. Hedge funds and other 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 the firm’s stock in a transaction on 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. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,684 shares of company stock valued at $5,591,600 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 9.0 %

ADI stock opened at $164.60 on Monday. The company has a market cap of $81.64 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 2.85 and a beta of 1.06. The firm has a 50-day moving average of $213.22 and a two-hundred day moving average of $218.28. Analog Devices, Inc. has a 12 month low of $159.66 and a 12 month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

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

Analog Devices declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given 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 annualized dividend and a yield of 2.41%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADI. JPMorgan Chase & Co. increased their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Morgan Stanley upped their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. UBS Group lifted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Truist Financial increased their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.