Motiv8 Investments LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Motiv8 Investments LLC boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 48.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,772 shares of the semiconductor company’s stock after purchasing an additional 1,566 shares during the quarter. Motiv8 Investments LLC’s holdings in Analog Devices were worth $1,014,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the 3rd quarter worth about $28,000. Archer Investment Corp grew its stake in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. Financial Life Planners purchased a new position in shares of Analog Devices in the 4th quarter valued at $33,000. Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at $41,000. Finally, Peterson Financial Group Inc. purchased a new stake in Analog Devices during the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADI shares. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Benchmark boosted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Finally, TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Stock Performance

Shares of ADI stock opened at $233.73 on Thursday. The company has a market cap of $115.92 billion, a P/E ratio of 74.44, a PEG ratio of 2.85 and a beta of 1.04. The business has a 50 day moving average of $216.87 and a two-hundred day moving average of $220.90. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. 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 (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 EPS. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.69%. This is a positive change 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%.

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

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.

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.