Sequoia Financial Advisors LLC Has $2.81 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Sequoia Financial Advisors LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,242 shares of the semiconductor company’s stock after acquiring an additional 811 shares during the period. Sequoia Financial Advisors LLC’s holdings in Analog Devices were worth $2,813,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth about $30,000. Archer Investment Corp lifted 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 acquiring an additional 73 shares during the period. Financial Life Planners bought a new position in shares of Analog Devices during the 4th quarter worth about $33,000. Kestra Investment Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth about $41,000. Finally, Peterson Financial Group Inc. bought a new position in Analog Devices during the 3rd quarter valued at about $43,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 2.4 %

Shares of NASDAQ:ADI opened at $208.75 on Friday. The stock has a market cap of $103.53 billion, a price-to-earnings ratio of 66.48, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a 50 day moving average of $218.09 and a 200-day moving average of $220.66. 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 issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.73 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually 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 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 of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.90%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. Benchmark lifted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. UBS Group lifted their price target 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. Barclays cut their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Morgan Stanley lifted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target 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.