Boston Family Office LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Boston Family Office LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,303 shares of the semiconductor company’s stock after selling 558 shares during the period. Boston Family Office LLC’s holdings in Analog Devices were worth $4,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADI. Curbstone Financial Management Corp purchased a new position in Analog Devices in the fourth quarter valued at approximately $460,000. Czech National Bank boosted its holdings in shares of Analog Devices by 6.5% in the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after buying an additional 6,566 shares in the last quarter. Synergy Asset Management LLC grew its position in shares of Analog Devices by 11.1% in the 4th quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after buying an additional 2,554 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Analog Devices in the 3rd quarter valued at $20,194,000. Finally, RFG Advisory LLC raised its stake in Analog Devices by 3.9% during the 4th quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $201.67 on Tuesday. 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, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a market cap of $100.02 billion, a price-to-earnings ratio of 64.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock has a 50 day simple moving average of $216.16 and a 200-day simple moving average of $219.35.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS 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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company earned $1.73 earnings per share. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.96%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices 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 directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,684 shares of company stock valued at $7,746,500. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. UBS Group boosted their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices 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. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average 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.