Kintegral Advisory LLC Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Kintegral Advisory LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,448 shares of the semiconductor company’s stock after selling 300 shares during the period. Kintegral Advisory LLC’s holdings in Analog Devices were worth $1,370,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the third quarter worth $28,000. Archer Investment Corp boosted 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 worth $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in Analog Devices in the fourth quarter worth about $33,000. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices during the 3rd quarter valued at about $43,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter valued at about $41,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $238.91 on Friday. The firm has a market cap of $118.49 billion, a price-to-earnings ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04. The firm has a fifty day moving average price of $215.50 and a 200 day moving average price of $220.34. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 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 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has initiated a stock 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 often a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.66%. 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. Analog Devices’s dividend payout ratio (DPR) is currently 117.20%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ADI shares. 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 report on Thursday. Wells Fargo & Company lifted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Benchmark boosted their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average 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.