Wealth Alliance Acquires 1,059 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wealth Alliance grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 71.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,549 shares of the semiconductor company’s stock after acquiring an additional 1,059 shares during the period. Wealth Alliance’s holdings in Analog Devices were worth $542,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Private Wealth Partners LLC grew its position in Analog Devices by 0.6% in the fourth quarter. Private Wealth Partners LLC now owns 27,475 shares of the semiconductor company’s stock worth $5,837,000 after acquiring an additional 165 shares in the last quarter. Bryn Mawr Capital Management LLC grew its position in Analog Devices by 268.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 140,405 shares of the semiconductor company’s stock worth $29,830,000 after acquiring an additional 102,307 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Analog Devices in the fourth quarter worth approximately $13,528,000. Werba Rubin Papier Wealth Management grew its position in Analog Devices by 5.9% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 1,398 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 78 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in Analog Devices by 5.1% in the fourth quarter. Global Retirement Partners LLC now owns 7,440 shares of the semiconductor company’s stock worth $1,581,000 after acquiring an additional 361 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Up 0.9 %

Shares of ADI stock opened at $243.82 on Friday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market cap of $120.96 billion, a price-to-earnings ratio of 74.11, a P/E/G ratio of 2.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a fifty day moving average of $215.06 and a 200-day moving average of $219.97.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data 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. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the company posted $1.73 EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

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

Analog Devices Increases Dividend

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

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley boosted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average 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.