Securian Asset Management Inc. Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Securian Asset Management Inc. lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 26,683 shares of the semiconductor company’s stock after selling 761 shares during the period. Securian Asset Management Inc.’s holdings in Analog Devices were worth $5,669,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the third quarter valued at $28,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices during the fourth quarter valued at $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices during the fourth quarter valued at $30,000. Archer Investment Corp increased its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Finally, Financial Life Planners purchased a new stake in Analog Devices during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is owned by company insiders.

Analog Devices Price Performance

NASDAQ:ADI opened at $209.08 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $103.70 billion, a P/E ratio of 66.59, a P/E/G ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The business’s 50-day moving average is $218.49 and its 200 day moving average is $220.99.

Analog Devices (NASDAQ:ADI) last posted its earnings results 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 company 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 for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a $0.99 dividend. This is an increase 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 1.89%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Truist Financial upped their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Oppenheimer reissued an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Benchmark boosted their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.