Townsquare Capital LLC Raises Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Townsquare Capital LLC lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 13,292 shares of the semiconductor company’s stock after purchasing an additional 454 shares during the quarter. Townsquare Capital LLC’s holdings in Analog Devices were worth $2,824,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ADI shares. Truist Financial boosted 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. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Finally, UBS Group raised their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $254.73.

Insider Activity at Analog Devices

In related news, 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 owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock valued at $5,591,600 in the last three months. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

ADI stock opened at $179.54 on Wednesday. The firm has a 50-day simple moving average of $207.71 and a two-hundred day simple moving average of $215.30. 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, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm has a market cap of $89.05 billion, a price-to-earnings ratio of 57.18, a PEG ratio of 2.85 and a beta of 1.06.

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. 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 analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. Analog Devices’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 2.21%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors 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.