United Services Automobile Association Sells 151 Shares of Analog Devices, Inc. (NASDAQ:ADI)

United Services Automobile Association trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,411 shares of the semiconductor company’s stock after selling 151 shares during the quarter. United Services Automobile Association’s holdings in Analog Devices were worth $2,424,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADI. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth $30,000. Mainstream Capital Management LLC bought a new stake in Analog Devices in the 4th quarter valued at $30,000. Cassady Schiller Wealth Management LLC lifted its stake in Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners bought a new position in shares of Analog Devices during the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Analog Devices during the fourth quarter valued at about $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research reports. Maxim Group assumed coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. JPMorgan Chase & Co. increased their target price on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Morgan Stanley upped their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, UBS Group boosted their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’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 sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock valued at $5,082,860 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ ADI opened at $204.40 on Monday. The stock has a 50 day moving average price of $217.17 and a 200 day moving average price of $219.83. The firm has a market capitalization of $101.38 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

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. The business had revenue of $2.42 billion for 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 company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. 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 yield of 1.94%. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership 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.