Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,072 shares of the semiconductor company’s stock after selling 177 shares during the quarter. Wealthspire Advisors LLC’s holdings in Analog Devices were worth $1,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices in the third quarter valued at $28,000. Archer Investment Corp lifted its holdings in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners purchased a new position in Analog Devices in the 4th quarter valued at about $33,000. Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter valued at about $41,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices during the third quarter worth about $43,000. Institutional investors and hedge funds 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 firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ADI. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Wells Fargo & Company increased their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Truist Financial increased 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. Finally, Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Performance

ADI stock opened at $235.30 on Wednesday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The stock has a market capitalization of $116.70 billion, a price-to-earnings ratio of 74.94, a PEG ratio of 2.85 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock’s fifty day moving average is $216.35 and its two-hundred day moving average is $220.81.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data 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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm posted $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its board has approved a share buyback 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 buy up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.68%. Analog Devices’s payout ratio is currently 126.11%.

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.