EverSource Wealth Advisors LLC Has $579,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

EverSource Wealth Advisors LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 62.2% in the fourth quarter, HoldingsChannel reports. The fund owned 2,723 shares of the semiconductor company’s stock after acquiring an additional 1,044 shares during the period. EverSource Wealth Advisors LLC’s holdings in Analog Devices were worth $579,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Analog Devices during the 4th quarter worth approximately $30,000. Archer Investment Corp boosted its holdings in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $33,000. Kestra Investment Management LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 2.4 %

ADI opened at $208.75 on Friday. The company has a market capitalization of $103.53 billion, a P/E ratio of 66.48, a P/E/G ratio of 2.85 and a beta of 1.07. The stock has a fifty day moving average of $218.09 and a 200-day moving average of $220.66. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. 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 (NASDAQ:ADI) last posted its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. On average, equities analysts expect that Analog Devices, Inc. will post 7.14 EPS 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 represents a $3.96 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

Analog Devices declared that its Board of Directors has approved a stock buyback program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Maxim Group initiated coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. UBS Group increased their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is 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.