United Services Automobile Association Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

United Services Automobile Association decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,411 shares of the semiconductor company’s stock after selling 151 shares during the quarter. United Services Automobile Association’s holdings in Analog Devices were worth $2,424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ADI. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the 4th quarter valued at approximately $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices in the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC raised its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners purchased a new position in Analog Devices during the fourth quarter valued at $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the 4th quarter valued at $41,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $204.40 on Monday. The stock has a market capitalization of $101.38 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The business’s fifty day moving average price is $217.17 and its 200-day moving average price is $219.83.

Analog Devices (NASDAQ:ADI) last posted its earnings results 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. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.94%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Analog Devices declared that its board has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

ADI has been the subject of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. TD Cowen cut their price target 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. Wells Fargo & Company raised their price objective on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Finally, Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note 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, Analog Devices has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Buying and Selling at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’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 owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,000 shares of company stock valued at $5,082,860. Insiders own 0.33% of the company’s stock.

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.