Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the fourth quarter, HoldingsChannel reports. The fund owned 7,487 shares of the semiconductor company’s stock after acquiring an additional 155 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Analog Devices were worth $1,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ADI. United Bank raised its stake in shares of Analog Devices by 4.7% during the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after buying an additional 273 shares in the last quarter. Quest Partners LLC acquired a new position in Analog Devices during the third quarter worth $210,000. Great Valley Advisor Group Inc. raised its position in Analog Devices by 39.4% in the third quarter. Great Valley Advisor Group Inc. now owns 2,018 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 570 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Analog Devices by 103.6% in the third quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock valued at $103,000 after acquiring an additional 228 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Analog Devices by 20.2% during the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock worth $652,000 after purchasing an additional 476 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,684 shares of company stock worth $7,746,500. 0.33% of the stock is currently owned by company insiders.

Analog Devices Price Performance

Analog Devices stock opened at $210.53 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market cap of $104.42 billion, a price-to-earnings ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm has a 50 day moving average price of $216.98 and a 200 day moving average price of $219.72.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $1.73 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

Analyst Ratings Changes

Several research analysts have weighed in on ADI shares. Barclays lowered their target price on shares of 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. Morgan Stanley raised their price objective 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 target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. UBS Group raised their price target 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, Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.41.

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.