Empower Advisory Group LLC Acquires New Shares in Analog Devices, Inc. (NASDAQ:ADI)

Empower Advisory Group LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 973 shares of the semiconductor company’s stock, valued at approximately $207,000.

Several other hedge funds also recently modified their holdings of the company. Swedbank AB raised its position 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 purchasing an additional 180,870 shares during the last quarter. Whittier Trust Co. raised its position in Analog Devices by 17.0% during the 3rd quarter. Whittier Trust Co. now owns 2,693 shares of the semiconductor company’s stock worth $620,000 after purchasing an additional 391 shares during the last quarter. Foundations Investment Advisors LLC raised its position in Analog Devices by 9.5% during the 3rd 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 last quarter. Sequoia Financial Advisors LLC raised its position in Analog Devices by 5.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 12,431 shares of the semiconductor company’s stock worth $2,861,000 after purchasing an additional 587 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in Analog Devices by 6.4% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $243.82 on Friday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The stock’s 50 day moving average price is $215.06 and its 200-day moving average price is $219.97. The company has a market capitalization of $120.96 billion, a PE ratio of 74.11, a PEG ratio of 2.53 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.84 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 for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.01% and a net margin of 17.35%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current year.

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

Analog Devices Increases Dividend

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

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on 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 sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Truist Financial raised their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday. Finally, UBS Group lifted their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Seven 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.19.

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.