Aviance Capital Partners LLC Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Aviance Capital Partners LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,814 shares of the semiconductor company’s stock after selling 340 shares during the quarter. Aviance Capital Partners LLC’s holdings in Analog Devices were worth $810,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ADI. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter worth about $28,000. Mainstream Capital Management LLC bought a new position in Analog Devices in the 4th quarter worth about $30,000. Archer Investment Corp boosted its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners bought a new position in Analog Devices in the 4th quarter worth about $33,000. Finally, Peterson Financial Group Inc. bought a new position in Analog Devices in the 3rd quarter worth about $43,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Up 1.4 %

Shares of NASDAQ:ADI opened at $225.86 on Friday. 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 business has a fifty day moving average of $218.48 and a two-hundred day moving average of $221.23. The stock has a market cap of $112.02 billion, a P/E ratio of 71.93, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. 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 prior year, the company posted $1.73 EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced 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 a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.75%. Analog Devices’s dividend payout ratio is presently 126.11%.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADI. Oppenheimer restated 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, February 20th. Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Lake Street Capital began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upped 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, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.

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.