Snowden Capital Advisors LLC Acquires 356 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Snowden Capital Advisors LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,982 shares of the semiconductor company’s stock after acquiring an additional 356 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Analog Devices were worth $2,121,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Analog Devices in the 4th quarter valued at approximately $1,755,958,000. Raymond James Financial Inc. bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $833,386,000. Proficio Capital Partners LLC raised its stake in shares of Analog Devices by 22,005.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock valued at $652,943,000 after purchasing an additional 3,059,349 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Analog Devices by 301.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company’s stock worth $335,933,000 after purchasing an additional 1,186,981 shares during the period. Finally, Deutsche Bank AG boosted its stake in Analog Devices by 71.0% during the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company’s stock worth $458,683,000 after buying an additional 896,694 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on ADI. Morgan Stanley set a $214.00 price target on shares of Analog Devices in a research report on Monday, April 21st. JPMorgan Chase & Co. increased their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Seaport Res Ptn raised Analog Devices to a “strong sell” rating in a research note on Wednesday, April 30th. Lake Street Capital initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Finally, Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.95.

Analog Devices Price Performance

ADI opened at $227.11 on Friday. 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 stock has a market capitalization of $112.64 billion, a P/E ratio of 72.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company’s 50 day simple moving average is $196.58 and its 200-day simple moving average is $210.41. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm 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%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 EPS. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now directly owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock worth $8,735,156 in the last quarter. 0.33% of the stock is owned by company 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.