Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.9% in the fourth quarter, Holdings Channel reports. The fund owned 2,576 shares of the semiconductor company’s stock after selling 161 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Analog Devices were worth $547,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the 3rd quarter valued at approximately $28,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the fourth quarter valued at $30,000. Archer Investment Corp lifted its stake in shares of Analog Devices by 101.4% in 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 shares of Analog Devices during the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $216.26 on Tuesday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market capitalization of $107.26 billion, a PE ratio of 68.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The business’s fifty day moving average price is $218.56 and its 200 day moving average price is $221.13.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business 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 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 quarter in the prior year, the business posted $1.73 EPS. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its board has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on ADI. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set 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. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. Finally, UBS Group lifted their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was 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 $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

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.