Allworth Financial LP Has $1.96 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Allworth Financial LP increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 8,750 shares of the semiconductor company’s stock after purchasing an additional 194 shares during the period. Allworth Financial LP’s holdings in Analog Devices were worth $1,961,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in ADI. Franklin Resources Inc. increased its stake in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. International Assets Investment Management LLC increased its position in Analog Devices by 23,792.4% in the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after buying an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Holocene Advisors LP boosted its position in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 2.6 %

Shares of ADI opened at $220.22 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company has a market cap of $109.25 billion, a price-to-earnings ratio of 66.94, a PEG ratio of 2.38 and a beta of 1.04. The stock has a fifty day moving average price of $213.95 and a two-hundred day moving average price of $219.56. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business posted $2.01 earnings per share. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. Analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices declared that its board has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently declared 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. 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 1.80%. Analog Devices’s dividend payout ratio is 111.85%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was 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 $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley cut their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial upped their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Benchmark began coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating and a $245.00 price objective on the stock. Finally, Barclays lowered their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $248.52.

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.