Atria Investments Inc Has $10.99 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Atria Investments Inc grew its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,734 shares of the semiconductor company’s stock after purchasing an additional 3,281 shares during the period. Atria Investments Inc’s holdings in Analog Devices were worth $10,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ADI. Bank of Hawaii raised its holdings in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 48 shares during the last quarter. NTV Asset Management LLC raised its holdings in Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 54 shares during the last quarter. West Oak Capital LLC raised its holdings in Analog Devices by 0.4% in the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after buying an additional 55 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Analog Devices by 0.8% in the 3rd quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock valued at $1,568,000 after buying an additional 57 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC raised its holdings in Analog Devices by 4.3% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company’s stock valued at $299,000 after buying an additional 58 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ ADI opened at $229.47 on Thursday. The company has a fifty day simple moving average of $218.21 and a 200 day simple moving average of $221.22. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market cap of $113.81 billion, a P/E ratio of 73.08, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the firm posted $1.73 EPS. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.73%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

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

Analyst Upgrades and Downgrades

ADI has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Williams Trading set a $245.00 price target on shares of Analog Devices in a report on Friday, February 14th. Finally, Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity at Analog Devices

In other Analog Devices 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 directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently 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.