Dividend Assets Capital LLC Sells 80 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Dividend Assets Capital LLC trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,954 shares of the semiconductor company’s stock after selling 80 shares during the period. Dividend Assets Capital LLC’s holdings in Analog Devices were worth $840,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Swedbank AB boosted its stake in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after acquiring an additional 180,870 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in Analog Devices by 9.5% in the third quarter. Foundations Investment Advisors LLC now owns 2,020 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 176 shares during the period. Private Advisor Group LLC boosted its position in shares of Analog Devices by 6.4% during the third quarter. Private Advisor Group LLC now owns 20,936 shares of the semiconductor company’s stock worth $4,818,000 after purchasing an additional 1,264 shares in the last quarter. McAdam LLC grew its holdings in shares of Analog Devices by 11.3% in the 3rd quarter. McAdam LLC now owns 976 shares of the semiconductor company’s stock valued at $225,000 after buying an additional 99 shares during the period. Finally, DT Investment Partners LLC increased its position in shares of Analog Devices by 0.7% in the 3rd quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after buying an additional 51 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $238.91 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average price is $215.50 and its two-hundred day moving average price is $220.24. The company has a market cap of $118.52 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 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 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 company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 7.11 EPS for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is 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 yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has approved 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 purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Benchmark lifted their price objective on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley lifted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group increased their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $255.19.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were 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 in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.