Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Wilkinson Global Asset Management LLC

Wilkinson Global Asset Management LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 199,431 shares of the semiconductor company’s stock after selling 465 shares during the quarter. Analog Devices comprises approximately 2.6% of Wilkinson Global Asset Management LLC’s portfolio, making the stock its 17th biggest position. Wilkinson Global Asset Management LLC’s holdings in Analog Devices were worth $42,371,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the third quarter valued at about $28,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% during the third 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 purchased a new position in shares of Analog Devices in the 4th quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new stake in Analog Devices in the 3rd quarter worth approximately $43,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

NASDAQ:ADI opened at $220.22 on Wednesday. The stock has a market capitalization of $109.25 billion, a PE ratio of 66.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $214.04 and its 200-day moving average price is $219.65.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business earned $2.01 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, equities analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board 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. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. 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 yield of 1.80%. Analog Devices’s dividend payout ratio is currently 111.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Benchmark started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating and a $245.00 price target for the company. Truist Financial increased their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $248.52.

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.