Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Tredje AP fonden

Tredje AP fonden decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 279,079 shares of the semiconductor company’s stock after selling 13,583 shares during the period. Tredje AP fonden’s holdings in Analog Devices were worth $59,293,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Archer Investment Corp boosted 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 worth $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 1.2 %

Shares of NASDAQ ADI opened at $206.62 on Thursday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm has a market cap of $102.48 billion, a price-to-earnings ratio of 65.80, a PEG ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock’s 50-day simple moving average is $218.37 and its 200-day simple moving average is $220.89.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors 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 repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADI shares. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley lifted their target price on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Six 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’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. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by corporate insiders.

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.