191 Shares in Analog Devices, Inc. (NASDAQ:ADI) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new position in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 191 shares of the semiconductor company’s stock, valued at approximately $41,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its stake in Analog Devices by 56.9% in the 4th quarter. Venturi Wealth Management LLC now owns 7,487 shares of the semiconductor company’s stock worth $1,591,000 after buying an additional 2,714 shares during the period. Citizens & Northern Corp increased its position in Analog Devices by 5.6% during the 4th quarter. Citizens & Northern Corp now owns 9,951 shares of the semiconductor company’s stock valued at $2,114,000 after purchasing an additional 528 shares during the period. Empower Advisory Group LLC purchased a new position in Analog Devices during the 4th quarter valued at about $207,000. Truist Financial Corp increased its position in Analog Devices by 0.6% during the 4th quarter. Truist Financial Corp now owns 1,489,162 shares of the semiconductor company’s stock valued at $316,387,000 after purchasing an additional 9,202 shares during the period. Finally, CIBC Asset Management Inc increased its position in Analog Devices by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company’s stock valued at $38,928,000 after purchasing an additional 3,529 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 2.0 %

ADI stock opened at $238.91 on Friday. The firm has a 50 day moving average of $215.50 and a 200 day moving average of $220.24. The stock has a market capitalization of $118.52 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the business posted $1.73 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Analog Devices, Inc. will post 7.11 earnings per share for the current year.

Analog Devices declared that its board has initiated 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.66%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is presently 126.11%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

ADI has been the topic of a number of research reports. UBS Group raised their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Barclays cut 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. Wells Fargo & Company lifted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.19.

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.