West Michigan Advisors LLC Sells 155 Shares of Analog Devices, Inc. (NASDAQ:ADI)

West Michigan Advisors LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,572 shares of the semiconductor company’s stock after selling 155 shares during the period. West Michigan Advisors LLC’s holdings in Analog Devices were worth $2,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the third quarter worth about $28,000. Archer Investment Corp lifted its holdings in Analog Devices by 101.4% in 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 stake in Analog Devices in the fourth quarter worth about $33,000. Kestra Investment Management LLC purchased a new stake in Analog Devices in the fourth quarter worth about $41,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Analog Devices during the third quarter valued at approximately $43,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.7 %

Shares of ADI stock opened at $229.82 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm has a fifty day moving average price of $217.55 and a 200-day moving average price of $221.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market cap of $113.99 billion, a price-to-earnings ratio of 73.19, a PEG ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.72%. Analog Devices’s payout ratio is presently 126.11%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 transaction, the chief executive officer now 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 transaction 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.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADI. Wells Fargo & Company lifted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Barclays lowered their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Maxim Group began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.