Shoker Investment Counsel Inc. Buys 348 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Shoker Investment Counsel Inc. raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,626 shares of the semiconductor company’s stock after purchasing an additional 348 shares during the quarter. Analog Devices accounts for about 1.0% of Shoker Investment Counsel Inc.’s portfolio, making the stock its 29th biggest position. Shoker Investment Counsel Inc.’s holdings in Analog Devices were worth $3,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp raised its holdings in shares of 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 last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $33,000. Peterson Financial Group Inc. bought a new position in shares of Analog Devices during the third quarter valued at about $43,000. Finally, Kestra Investment Management LLC purchased a new position in Analog Devices during the fourth quarter worth about $41,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Down 4.2 %

NASDAQ:ADI opened at $223.85 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The stock’s fifty day moving average price is $217.19 and its two-hundred day moving average price is $220.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market cap of $111.02 billion, a P/E ratio of 71.29, a P/E/G ratio of 2.85 and a beta of 1.04.

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

Analog Devices announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire 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 company 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. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.77%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analyst Ratings Changes

Several equities research analysts have commented on ADI shares. Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Wells Fargo & Company increased their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. UBS Group boosted 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. Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.