Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Decreased by Tower View Wealth Management LLC

Tower View Wealth Management LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,956 shares of the semiconductor company’s stock after selling 286 shares during the period. Tower View Wealth Management LLC’s holdings in Analog Devices were worth $2,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cantillon Capital Management LLC increased its position in shares of Analog Devices by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,309,278 shares of the semiconductor company’s stock worth $490,629,000 after purchasing an additional 12,156 shares during the last quarter. Metis Global Partners LLC increased its position in shares of Analog Devices by 3.9% in the 4th quarter. Metis Global Partners LLC now owns 30,196 shares of the semiconductor company’s stock worth $6,415,000 after purchasing an additional 1,132 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Analog Devices in the 4th quarter worth about $11,579,000. Flputnam Investment Management Co. increased its position in shares of Analog Devices by 4.4% in the 4th quarter. Flputnam Investment Management Co. now owns 56,879 shares of the semiconductor company’s stock worth $12,084,000 after purchasing an additional 2,405 shares during the last quarter. Finally, First American Bank grew its position in shares of Analog Devices by 1.1% during the 4th quarter. First American Bank now owns 56,882 shares of the semiconductor company’s stock valued at $12,085,000 after buying an additional 642 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADI. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Trading Up 2.7 %

Shares of NASDAQ:ADI opened at $229.82 on Friday. The company has a 50 day moving average of $217.55 and a 200-day moving average of $221.07. The firm has a market cap of $113.99 billion, a P/E ratio of 73.19, a P/E/G ratio of 2.85 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. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 EPS. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The firm 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. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.72%. Analog Devices’s dividend payout ratio is currently 126.11%.

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.