Howe & Rusling Inc. Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Howe & Rusling Inc. bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,061 shares of the semiconductor company’s stock, valued at approximately $225,000.

A number of other hedge funds have also recently modified their holdings of ADI. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 55 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC purchased a new position in Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADI. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. UBS Group increased their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Barclays lowered their price objective on shares of 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. Benchmark upped their target price 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. Finally, Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Activity at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,684 shares of company stock valued at $7,746,500. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 0.8 %

Shares of ADI opened at $208.94 on Friday. The firm’s 50-day moving average is $216.86 and its two-hundred day moving average is $219.64. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month 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 firm has a market capitalization of $103.63 billion, a P/E ratio of 66.54, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. On average, research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.90%. Analog Devices’s payout ratio is currently 126.11%.

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