NBW Capital LLC Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

NBW Capital LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,155 shares of the semiconductor company’s stock after selling 764 shares during the quarter. Analog Devices accounts for about 1.8% of NBW Capital LLC’s holdings, making the stock its 16th biggest position. NBW Capital LLC’s holdings in Analog Devices were worth $9,806,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after acquiring an additional 39,186 shares in the last quarter. Swiss National Bank boosted its stake in shares of Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $460,000. Finally, Summit Global Investments purchased a new stake in shares of Analog Devices during the 3rd quarter worth approximately $867,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ ADI opened at $228.53 on Tuesday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The firm has a fifty day moving average of $217.82 and a 200-day moving average of $221.14. The stock has a market capitalization of $113.35 billion, a PE ratio of 72.78, a P/E/G ratio of 2.85 and a beta of 1.04. 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 (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) 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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company earned $1.73 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.73%. Analog Devices’s payout ratio is currently 126.11%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. UBS Group lifted their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

About Analog Devices

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.