Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,029 shares of the semiconductor company’s stock after selling 279 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Analog Devices were worth $1,281,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ADI. Swedbank AB raised its position in Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares in the last quarter. Integrated Advisors Network LLC increased its stake in shares of Analog Devices by 27.5% during the third quarter. Integrated Advisors Network LLC now owns 3,911 shares of the semiconductor company’s stock worth $900,000 after buying an additional 843 shares during the period. MONECO Advisors LLC raised its holdings in Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after acquiring an additional 50 shares in the last quarter. Eagle Strategies LLC raised its holdings in Analog Devices by 230.3% in the third quarter. Eagle Strategies LLC now owns 3,065 shares of the semiconductor company’s stock valued at $706,000 after acquiring an additional 2,137 shares in the last quarter. Finally, Avitas Wealth Management LLC lifted its stake in Analog Devices by 1.6% in the third quarter. Avitas Wealth Management LLC now owns 13,808 shares of the semiconductor company’s stock worth $3,178,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADI shares. Benchmark raised their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Morgan Stanley raised their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Six 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 an average target price of $255.41.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ:ADI opened at $233.73 on Thursday. 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 stock has a market cap of $115.92 billion, a P/E ratio of 74.44, a P/E/G ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The firm has a fifty day moving average price of $216.87 and a 200 day moving average price of $220.90.

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. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has approved 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 often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.