GPM Growth Investors Inc. Has $7.27 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

GPM Growth Investors Inc. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 34,232 shares of the semiconductor company’s stock after selling 527 shares during the period. Analog Devices accounts for approximately 3.1% of GPM Growth Investors Inc.’s portfolio, making the stock its 14th biggest position. GPM Growth Investors Inc.’s holdings in Analog Devices were worth $7,273,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Analog Devices during the third quarter worth $28,000. Mainstream Capital Management LLC bought a new stake in Analog Devices during the fourth quarter worth $30,000. Archer Investment Corp raised its position 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 acquiring an additional 73 shares in the last quarter. Financial Life Planners bought a new stake in Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new stake in Analog Devices during the fourth quarter worth $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ADI. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Truist Financial upped their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley increased their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value 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 trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Trading Up 1.5 %

Shares of Analog Devices stock opened at $229.47 on Thursday. The company has a market capitalization of $113.81 billion, a price-to-earnings ratio of 73.08, a PEG ratio of 2.85 and a beta of 1.07. 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, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The firm’s 50-day moving average price is $218.21 and its two-hundred day moving average price is $221.22.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company posted $1.73 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.73%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Analog Devices Company 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.