FourThought Financial Partners LLC Takes $595,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

FourThought Financial Partners LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,799 shares of the semiconductor company’s stock, valued at approximately $595,000.

A number of other large investors also recently modified their holdings of the company. Swedbank AB lifted its position in Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares during the last quarter. PFG Investments LLC lifted its position in Analog Devices by 76.6% during the third quarter. PFG Investments LLC now owns 2,678 shares of the semiconductor company’s stock valued at $616,000 after purchasing an additional 1,162 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Analog Devices by 14.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,159 shares of the semiconductor company’s stock valued at $1,187,000 after purchasing an additional 670 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Analog Devices by 11.6% during the third quarter. Nisa Investment Advisors LLC now owns 203,175 shares of the semiconductor company’s stock valued at $46,765,000 after purchasing an additional 21,130 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Analog Devices during the third quarter valued at approximately $998,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. TD Cowen dropped their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Barclays lowered their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.7 %

Shares of Analog Devices stock opened at $235.30 on Wednesday. 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 company’s fifty day simple moving average is $216.35 and its two-hundred day simple moving average is $220.81. The company has a market cap of $116.70 billion, a P/E ratio of 74.94, a PEG ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (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 net margin of 16.75% and a return on equity of 8.91%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

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

Analog Devices Company 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.