Purkiss Capital Advisors LLC Makes New $205,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

Purkiss Capital Advisors LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 964 shares of the semiconductor company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB increased its stake in shares of Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after buying an additional 180,870 shares during the period. F M Investments LLC acquired a new position in Analog Devices during the 3rd quarter worth approximately $2,001,000. Invesco LLC increased its position in shares of Analog Devices by 3.5% in the 3rd quarter. Invesco LLC now owns 2,747 shares of the semiconductor company’s stock valued at $632,000 after purchasing an additional 93 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its holdings in shares of Analog Devices by 1.1% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 14,022 shares of the semiconductor company’s stock valued at $3,228,000 after purchasing an additional 158 shares in the last quarter. Finally, Optas LLC raised its holdings in shares of Analog Devices by 16.6% in the 3rd quarter. Optas LLC now owns 1,409 shares of the semiconductor company’s stock valued at $324,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $229.82 on Friday. The stock’s 50-day moving average price is $217.55 and its 200 day moving average price is $221.07. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $113.99 billion, a PE ratio of 73.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (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 business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADI shares. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Morgan Stanley boosted their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, Benchmark boosted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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.