Erste Asset Management GmbH Sells 7,440 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Erste Asset Management GmbH trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 28.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,029 shares of the semiconductor company’s stock after selling 7,440 shares during the period. Erste Asset Management GmbH’s holdings in Analog Devices were worth $4,129,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADI. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Archer Investment Corp lifted its stake in shares of Analog Devices by 101.4% during the 3rd 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 last quarter. Financial Life Planners bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 2.4 %

Shares of ADI stock opened at $208.75 on Friday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The stock’s fifty day moving average price is $218.09 and its 200 day moving average price is $220.66. 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 company has a market cap of $103.53 billion, a price-to-earnings ratio of 66.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the business earned $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Piper Sandler decreased their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.