Perennial Investment Advisors LLC Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Perennial Investment Advisors LLC grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,287 shares of the semiconductor company’s stock after buying an additional 85 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Analog Devices were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analog Devices Trading Down 9.0 %

NASDAQ ADI opened at $164.60 on Friday. The firm’s fifty day moving average is $213.22 and its two-hundred day moving average is $218.31. Analog Devices, Inc. has a one year low of $164.14 and a one year high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm has a market cap of $81.64 billion, a PE ratio of 52.42, a P/E/G ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for 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%. During the same quarter in the previous year, the firm posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.41%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ADI shares. Truist Financial lifted their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their target price 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, February 20th. Finally, Maxim Group initiated coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’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 transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. The trade was a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,684 shares of company stock worth $5,591,600 in the last three months. Insiders own 0.33% of the company’s stock.

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.