Analog Devices, Inc. (NASDAQ:ADI) Stock Position Increased by Wealth Alliance

Wealth Alliance boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 71.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,549 shares of the semiconductor company’s stock after purchasing an additional 1,059 shares during the quarter. Wealth Alliance’s holdings in Analog Devices were worth $542,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADI. Capital Performance Advisors LLP bought a new stake in Analog Devices in the 3rd quarter valued at about $28,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the period. Financial Life Planners acquired a new position in Analog Devices during the 4th quarter valued at about $33,000. Kestra Investment Management LLC acquired a new position in Analog Devices during the 4th quarter valued at about $41,000. Finally, Peterson Financial Group Inc. acquired a new position in Analog Devices during the 3rd quarter valued at about $43,000. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction 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 approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ADI shares. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday. Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Benchmark raised their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.19.

Analog Devices Stock Up 0.9 %

ADI stock opened at $243.82 on Friday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company’s 50 day simple moving average is $215.06 and its 200-day simple moving average is $219.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market capitalization of $120.96 billion, a P/E ratio of 74.11, a P/E/G ratio of 2.53 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices declared that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 111.85%.

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.