Wrapmanager Inc. Sells 234 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wrapmanager Inc. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,523 shares of the semiconductor company’s stock after selling 234 shares during the quarter. Wrapmanager Inc.’s holdings in Analog Devices were worth $324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp grew its holdings in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners bought a new position in Analog Devices during the 4th quarter worth $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the third quarter worth $43,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Truist Financial boosted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Finally, UBS Group upped their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ:ADI opened at $235.30 on Wednesday. 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 52-week low of $182.57 and a 52-week high of $247.10. The company has a market capitalization of $116.70 billion, a PE ratio of 74.94, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. The company has a fifty day moving average of $216.35 and a 200-day moving average of $220.81.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business 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 firm earned $1.73 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.68%. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its board has approved a share buyback 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 purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically an indication 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.