West Oak Capital LLC Sells 380 Shares of Analog Devices, Inc. (NASDAQ:ADI)

West Oak Capital LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,129 shares of the semiconductor company’s stock after selling 380 shares during the period. West Oak Capital LLC’s holdings in Analog Devices were worth $2,446,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Analog Devices in the 4th quarter worth approximately $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the fourth quarter valued at $30,000. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% during the 4th 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 during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $232.54 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $115.40 billion, a PE ratio of 74.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The business’s 50-day moving average price is $202.55 and its 200-day moving average price is $210.69. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s dividend payout ratio is currently 107.90%.

Analog Devices announced that its board has authorized 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 purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their target price on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Friday, May 23rd. Cantor Fitzgerald raised their price objective on shares of Analog Devices from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Oppenheimer upped their target price on shares of Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Truist Financial increased their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.63.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company’s stock, valued at approximately $33,576,907.41. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,934 shares of company stock worth $6,643,956 in the last 90 days. 0.33% of the stock is 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.