Purkiss Capital Advisors LLC Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Purkiss Capital Advisors LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 964 shares of the semiconductor company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp raised its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the period. Financial Life Planners purchased a new position in Analog Devices during the fourth quarter valued at $33,000. Kestra Investment Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $41,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices during the third quarter worth about $43,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.7 %

Shares of Analog Devices stock opened at $229.82 on Friday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm has a market capitalization of $113.99 billion, a price-to-earnings ratio of 73.19, a PEG ratio of 2.85 and a beta of 1.04. The stock has a 50 day moving average of $217.55 and a 200 day moving average of $221.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during 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 company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Analog Devices announced that its board has initiated a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADI. Truist Financial raised their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their target price 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. Williams Trading set a $245.00 price target on Analog Devices in a research report on Friday, February 14th. TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

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.