Shoker Investment Counsel Inc. Buys 348 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Shoker Investment Counsel Inc. boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,626 shares of the semiconductor company’s stock after acquiring an additional 348 shares during the quarter. Analog Devices accounts for approximately 1.0% of Shoker Investment Counsel Inc.’s portfolio, making the stock its 29th largest holding. Shoker Investment Counsel Inc.’s holdings in Analog Devices were worth $3,108,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in Analog Devices in the 4th quarter worth $33,000. Kestra Investment Management LLC bought a new stake in Analog Devices in the fourth quarter worth $41,000. Finally, Peterson Financial Group Inc. purchased a new stake in Analog Devices during the third quarter valued at about $43,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADI. Benchmark lifted their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Truist Financial lifted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company increased their price target 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 given a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $223.85 on Friday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The firm has a market capitalization of $111.02 billion, a P/E ratio of 71.29, a P/E/G ratio of 2.85 and a beta of 1.04. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $217.19 and a two-hundred day simple moving average of $220.92.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results 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. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are 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 paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.77%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices 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.