Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by West Tower Group LLC

West Tower Group LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 33.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,000 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. West Tower Group LLC’s holdings in Analog Devices were worth $425,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the 4th quarter valued at about $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners acquired a new stake in Analog Devices in the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ADI shares. Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. UBS Group upped their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Barclays reduced 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. Lake Street Capital started coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued 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.

Analog Devices Stock Down 1.2 %

ADI opened at $209.16 on Wednesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $103.74 billion, a price-to-earnings ratio of 66.61, a P/E/G ratio of 2.85 and a beta of 1.07. The business has a 50 day moving average of $217.83 and a 200-day moving average of $220.22.

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

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio is currently 126.11%.

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.