2,799 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by FourThought Financial Partners LLC

FourThought Financial Partners LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,799 shares of the semiconductor company’s stock, valued at approximately $595,000.

Other hedge funds also recently bought and sold shares of the company. CWS Financial Advisors LLC lifted its stake in Analog Devices by 62.0% during the 4th quarter. CWS Financial Advisors LLC now owns 1,419 shares of the semiconductor company’s stock valued at $301,000 after acquiring an additional 543 shares during the period. Pine Valley Investments Ltd Liability Co lifted its stake in Analog Devices by 12.0% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 8,603 shares of the semiconductor company’s stock valued at $1,828,000 after acquiring an additional 923 shares during the period. Crestwood Advisors Group LLC lifted its stake in Analog Devices by 1.0% during the 4th quarter. Crestwood Advisors Group LLC now owns 32,500 shares of the semiconductor company’s stock valued at $6,905,000 after acquiring an additional 333 shares during the period. IFP Advisors Inc lifted its stake in Analog Devices by 9.6% during the 4th quarter. IFP Advisors Inc now owns 2,469 shares of the semiconductor company’s stock valued at $525,000 after acquiring an additional 216 shares during the period. Finally, J. W. Coons Advisors LLC lifted its stake in Analog Devices by 1.4% during the 4th quarter. J. W. Coons Advisors LLC now owns 16,179 shares of the semiconductor company’s stock valued at $3,437,000 after acquiring an additional 218 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADI shares. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Finally, TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Trading Down 0.7 %

ADI stock opened at $235.30 on Wednesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. 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 capitalization of $116.70 billion, a price-to-earnings ratio of 74.94, a PEG ratio of 2.85 and a beta of 1.04. The business has a 50 day simple moving average of $216.35 and a two-hundred day simple moving average of $220.81.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company earned $1.73 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.68%. 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 announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.

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.