Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by MONECO Advisors LLC

MONECO Advisors LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,120 shares of the semiconductor company’s stock after buying an additional 301 shares during the quarter. MONECO Advisors LLC’s holdings in Analog Devices were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp grew 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 worth $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $33,000. Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth approximately $41,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the third quarter worth approximately $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADI. Morgan Stanley raised their price target 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. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Finally, Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $236.99 on Tuesday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The stock’s fifty day moving average is $215.92 and its two-hundred day moving average is $220.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. The stock has a market capitalization of $117.54 billion, a price-to-earnings ratio of 75.47, a PEG ratio of 2.60 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. On average, research analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current year.

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 paid 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 dividend yield of 1.67%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s payout ratio is currently 117.20%.

Analog Devices declared that its board has initiated a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.