EFG Asset Management North America Corp. Buys 1,170 Shares of Analog Devices, Inc. (NASDAQ:ADI)

EFG Asset Management North America Corp. raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,162 shares of the semiconductor company’s stock after acquiring an additional 1,170 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Analog Devices were worth $3,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $30,000. Mainstream Capital Management LLC purchased a new position in Analog Devices during the fourth quarter valued at $30,000. Cassady Schiller Wealth Management LLC boosted its holdings in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices in the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ADI shares. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. TD Cowen dropped their price target 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. Williams Trading set a $245.00 price objective on Analog Devices in a research report on Friday, February 14th. Morgan Stanley boosted their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price target on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,000 shares of company stock worth $5,082,860. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Up 3.9 %

Shares of ADI stock opened at $212.34 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The stock has a market cap of $105.32 billion, a P/E ratio of 67.62, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a 50 day simple moving average of $217.16 and a two-hundred day simple moving average of $219.78.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data 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 analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 EPS. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given 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 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.