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

D.A. Davidson & CO. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,468 shares of the semiconductor company’s stock after selling 342 shares during the period. D.A. Davidson & CO.’s holdings in Analog Devices were worth $1,374,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after acquiring an additional 39,186 shares during the last quarter. Swiss National Bank grew its holdings in Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after buying an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after buying an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp acquired a new stake in Analog Devices in the 4th quarter valued at approximately $460,000. Finally, Summit Global Investments acquired a new stake in Analog Devices in the 3rd quarter valued at approximately $867,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 2.0 %

NASDAQ ADI opened at $238.91 on Friday. The stock has a fifty day moving average of $215.50 and a 200-day moving average of $220.34. The stock has a market capitalization of $118.49 billion, a P/E ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last released its 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. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are 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. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. Analog Devices’s payout ratio is 117.20%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ADI shares. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Morgan Stanley raised their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays reduced their price objective 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research report on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.