Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 48.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,051 shares of the semiconductor company’s stock after purchasing an additional 1,641 shares during the quarter. Mission Wealth Management LP’s holdings in Analog Devices were worth $1,073,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the 3rd quarter valued at $28,000. Archer Investment Corp lifted 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 acquiring an additional 73 shares in the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices during the 4th quarter valued at $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the 3rd quarter valued at $43,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

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

Analysts Set New Price Targets

A number of brokerages have commented on ADI. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley boosted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Piper Sandler dropped their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Six equities 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Price Performance

NASDAQ ADI opened at $226.18 on Wednesday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week 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. The stock has a market cap of $112.18 billion, a price-to-earnings ratio of 72.03, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. The company has a 50-day moving average price of $217.98 and a two-hundred day moving average price of $221.16.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm 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 firm earned $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.75%. Analog Devices’s dividend payout ratio is 126.11%.

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.