Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Tucker Asset Management LLC

Tucker Asset Management LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,376 shares of the semiconductor company’s stock after selling 300 shares during the period. Tucker Asset Management LLC’s holdings in Analog Devices were worth $292,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in Analog Devices in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC lifted its position in shares of Analog Devices by 63.2% during the fourth 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 acquired a new position in shares of Analog Devices in 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. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 3.5 %

Shares of ADI stock opened at $201.56 on Friday. The company has a market capitalization of $99.97 billion, a P/E ratio of 64.19, a P/E/G ratio of 2.85 and a beta of 1.07. The firm has a 50-day moving average price of $216.51 and a 200 day moving average price of $219.52. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

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 analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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 a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.96%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Buying and Selling

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. The trade was a 7.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction 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 approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADI has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley upped their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Finally, Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.41.

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.