Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 566 shares of the semiconductor company’s stock after buying an additional 118 shares during the period. Larson Financial Group LLC’s holdings in Analog Devices were worth $120,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the third quarter worth about $28,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at about $30,000. Archer Investment Corp lifted its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners acquired a new stake in Analog Devices in the fourth quarter valued at about $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

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

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $209.08 on Wednesday. The firm has a market cap of $103.70 billion, a PE ratio of 66.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm’s 50-day simple moving average is $218.49 and its 200-day simple moving average is $220.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed 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 a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.89%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices announced 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analog Devices Company 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.