Smartleaf Asset Management LLC Acquires 912 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Smartleaf Asset Management LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,955 shares of the semiconductor company’s stock after purchasing an additional 912 shares during the period. Smartleaf Asset Management LLC’s holdings in Analog Devices were worth $1,904,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Analog Devices in the 3rd quarter worth about $28,000. Archer Investment Corp lifted its holdings in shares of 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 in the last quarter. Financial Life Planners bought a new position in shares of Analog Devices in the fourth quarter valued at approximately $33,000. Kestra Investment Management LLC purchased a new position in Analog Devices during the fourth quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. bought a new stake in Analog Devices during the 3rd quarter worth approximately $43,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 2.7 %

NASDAQ ADI opened at $229.82 on Friday. The stock has a 50-day moving average of $217.55 and a 200-day moving average of $221.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The firm has a market cap of $113.99 billion, a PE ratio of 73.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. 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 company posted $1.73 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADI shares. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company raised their price target on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Truist Financial boosted their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.