Corient Private Wealth LLC Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Corient Private Wealth LLC grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 62.3% during the 4th quarter, HoldingsChannel reports. The firm owned 966,530 shares of the semiconductor company’s stock after buying an additional 370,933 shares during the quarter. Corient Private Wealth LLC’s holdings in Analog Devices were worth $204,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of ADI. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Archer Investment Corp lifted its position 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 valued at $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Analog Devices during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 2.4 %

Shares of NASDAQ:ADI opened at $208.75 on Friday. The business has a 50-day moving average price of $218.09 and a 200 day moving average price of $220.58. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $103.53 billion, a price-to-earnings ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

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

Analog Devices Increases Dividend

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

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

Analysts Set New Price Targets

ADI has been the topic of a number of recent analyst reports. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. UBS Group increased their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Maxim Group assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.