Orion Portfolio Solutions LLC Acquires 4,339 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Orion Portfolio Solutions LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,196 shares of the semiconductor company’s stock after purchasing an additional 4,339 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Analog Devices were worth $10,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices during the 4th quarter worth about $30,000. Mainstream Capital Management LLC bought a new position in Analog Devices during the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC increased its stake 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 valued at $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners acquired a new stake in Analog Devices in the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices in the fourth quarter worth $41,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

Shares of ADI stock opened at $201.56 on Friday. The stock has a market cap of $99.97 billion, a P/E ratio of 64.19, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a fifty day moving average price of $216.51 and a two-hundred day moving average price of $219.52. Analog Devices, Inc. has a one year low of $182.57 and a one 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.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. As a group, equities analysts predict 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 was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.96%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADI. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. Truist Financial raised their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. UBS Group boosted their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley lifted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,684 shares of company stock valued at $7,746,500 over the last ninety days. 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.