AIMZ Investment Advisors LLC Sells 99 Shares of Analog Devices, Inc. (NASDAQ:ADI)

AIMZ Investment Advisors LLC trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,350 shares of the semiconductor company’s stock after selling 99 shares during the quarter. AIMZ Investment Advisors LLC’s holdings in Analog Devices were worth $2,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ADI. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the third quarter worth approximately $28,000. Archer Investment Corp raised its stake in 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 buying 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 $33,000. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices in the third quarter worth $43,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 4.2 %

Shares of ADI stock opened at $223.85 on Friday. The stock has a market cap of $111.02 billion, a P/E ratio of 71.29, a PEG ratio of 2.85 and a beta of 1.04. The company’s fifty day simple moving average is $217.19 and its two-hundred day simple moving average is $220.92. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. Analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has approved a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared 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 an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.77%. Analog Devices’s dividend payout ratio is presently 126.11%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADI shares. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. 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 report on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. 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 note on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Six equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices 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.