Advisory Services Network LLC Acquires 532 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Advisory Services Network LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,197 shares of the semiconductor company’s stock after purchasing an additional 532 shares during the period. Advisory Services Network LLC’s holdings in Analog Devices were worth $5,778,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ADI. Midwest Professional Planners LTD. grew its position in Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock worth $1,975,000 after purchasing an additional 53 shares during the period. Portland Global Advisors LLC boosted its position in Analog Devices by 1.3% in the fourth quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 53 shares during the last quarter. NTV Asset Management LLC grew its stake in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 54 shares during the period. West Oak Capital LLC increased its position in shares of Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after purchasing an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its stake 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 worth $30,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 3.1 %

NASDAQ ADI opened at $166.09 on Wednesday. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The firm has a market capitalization of $82.38 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 2.85 and a beta of 1.06. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $210.59 and a two-hundred day moving average of $217.05.

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

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.38%. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on ADI shares. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Lake Street Capital began coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Barclays decreased their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Oppenheimer reiterated 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 assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices 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 $10,441,928.04. The trade was a 7.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71 % 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 over the last quarter. Company insiders own 0.33% of the company’s stock.

Analog Devices Company 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.