Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,468 shares of the semiconductor company’s stock after selling 342 shares during the quarter. D.A. Davidson & CO.’s holdings in Analog Devices were worth $1,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Citizens & Northern Corp raised its stake in Analog Devices by 5.6% in the 4th quarter. Citizens & Northern Corp now owns 9,951 shares of the semiconductor company’s stock valued at $2,114,000 after purchasing an additional 528 shares during the last quarter. Empower Advisory Group LLC acquired a new position in Analog Devices in the 4th quarter valued at about $207,000. Truist Financial Corp raised its stake in Analog Devices by 0.6% in the 4th quarter. Truist Financial Corp now owns 1,489,162 shares of the semiconductor company’s stock valued at $316,387,000 after purchasing an additional 9,202 shares during the last quarter. CIBC Asset Management Inc raised its stake in Analog Devices by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company’s stock valued at $38,928,000 after purchasing an additional 3,529 shares during the last quarter. Finally, NTV Asset Management LLC raised its stake in Analog Devices by 2.7% in 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 last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday. Wells Fargo & Company lifted their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Piper Sandler lowered their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Down 2.0 %

NASDAQ ADI opened at $238.91 on Friday. The business has a 50 day moving average price of $215.50 and a two-hundred day moving average price of $220.34. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a market cap of $118.49 billion, a PE ratio of 76.09, a P/E/G ratio of 2.60 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its 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. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates 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 in the prior year, the company posted $1.73 EPS. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 117.20%.

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.