Analog Devices, Inc. (NASDAQ:ADI) Stake Boosted by Allworth Financial LP

Allworth Financial LP increased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,750 shares of the semiconductor company’s stock after purchasing an additional 194 shares during the period. Allworth Financial LP’s holdings in Analog Devices were worth $1,961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Hawaii raised its holdings in shares of Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 48 shares during the last quarter. MONECO Advisors LLC grew its stake in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 50 shares in the last quarter. DT Investment Partners LLC increased its holdings in shares of Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after purchasing an additional 51 shares during the period. Amarillo National Bank raised its stake in shares of Analog Devices by 3.6% during the third quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock valued at $360,000 after purchasing an additional 54 shares in the last quarter. Finally, Blossom Wealth Management lifted its holdings in Analog Devices by 3.0% in the third quarter. Blossom Wealth Management now owns 1,881 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADI. TD Cowen dropped their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Truist Financial upped their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Benchmark initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating and a $245.00 price target on the stock. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.52.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Up 2.6 %

Shares of NASDAQ ADI opened at $220.22 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The business has a 50-day moving average price of $213.95 and a two-hundred day moving average price of $219.56. The firm has a market capitalization of $109.25 billion, a PE ratio of 66.94, a PEG ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period last year, the company posted $2.01 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal 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 is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.80%. Analog Devices’s dividend payout ratio is 111.85%.

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

About Analog Devices

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.