Lansing Street Advisors Acquires Shares of 1,161 Analog Devices, Inc. (NASDAQ:ADI)

Lansing Street Advisors acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,161 shares of the semiconductor company’s stock, valued at approximately $247,000.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the third quarter valued at about $28,000. Archer Investment Corp lifted its position 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 purchasing an additional 73 shares in the last quarter. Financial Life Planners bought a new position in shares of Analog Devices during the fourth quarter valued at about $33,000. Kestra Investment Management LLC bought a new position in shares of Analog Devices during the fourth quarter valued at about $41,000. Finally, Peterson Financial Group Inc. bought a new stake in Analog Devices in the third quarter worth about $43,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Performance

NASDAQ:ADI opened at $238.91 on Friday. The stock has a market cap of $118.49 billion, a P/E ratio of 76.09, a PEG ratio of 2.60 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $215.50 and its two-hundred day moving average price is $220.34. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 earnings per share. As a group, equities analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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 given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.66%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is 117.20%.

Analysts Set New Price Targets

Several analysts have commented on ADI shares. Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Oppenheimer reaffirmed 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. Maxim Group started coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday. Finally, Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

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.