Lifeworks Advisors LLC Sells 730 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Lifeworks Advisors LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,219 shares of the semiconductor company’s stock after selling 730 shares during the period. Lifeworks Advisors LLC’s holdings in Analog Devices were worth $259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB grew its holdings in shares of Analog Devices by 6.7% during the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after purchasing an additional 180,870 shares in the last quarter. Impax Asset Management Group plc grew its stake in Analog Devices by 7.7% in the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock worth $352,728,000 after buying an additional 110,448 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Analog Devices by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 605,596 shares of the semiconductor company’s stock worth $139,390,000 after buying an additional 16,051 shares during the last quarter. Summit Global Investments bought a new position in shares of Analog Devices in the 3rd quarter worth $867,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the 3rd quarter worth $28,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 1.4 %

NASDAQ ADI opened at $225.86 on Friday. 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 fifty-two week low of $182.57 and a fifty-two week high of $247.10. The stock has a market cap of $112.02 billion, a P/E ratio of 71.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The stock has a 50 day simple moving average of $218.48 and a two-hundred day simple moving average of $221.21.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results 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 company had revenue of $2.42 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.73 earnings per share. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

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

Analyst Ratings Changes

ADI has been the topic of a number of research analyst reports. Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Piper Sandler reduced 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. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Benchmark lifted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

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.