Hilton Capital Management LLC Sells 2,369 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Hilton Capital Management LLC decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 18,917 shares of the semiconductor company’s stock after selling 2,369 shares during the quarter. Hilton Capital Management LLC’s holdings in Analog Devices were worth $4,019,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ADI. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices in the 4th quarter valued at $30,000. Archer Investment Corp boosted its position in shares of Analog Devices by 101.4% during the 3rd 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 acquired a new position in Analog Devices in the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices during the fourth quarter worth about $41,000. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Finally, Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Price Performance

Analog Devices stock opened at $203.80 on Friday. The firm has a market capitalization of $101.08 billion, a P/E ratio of 64.90, a PEG ratio of 2.85 and a beta of 1.07. The business has a 50-day moving average of $218.22 and a 200-day moving average of $220.78. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its board has initiated a share 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.