Evoke Wealth LLC Sells 1,540 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Evoke Wealth LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,001 shares of the semiconductor company’s stock after selling 1,540 shares during the period. Evoke Wealth LLC’s holdings in Analog Devices were worth $7,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADI. Swedbank AB boosted its stake in shares of Analog Devices by 6.7% in the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after buying an additional 180,870 shares during the period. United Bank lifted its position in shares of Analog Devices by 4.7% during the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock valued at $1,394,000 after acquiring an additional 273 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Analog Devices during the 3rd quarter worth $508,000. Thrivent Financial for Lutherans increased its position in shares of Analog Devices by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 25,336 shares of the semiconductor company’s stock worth $5,832,000 after purchasing an additional 582 shares during the period. Finally, Quest Partners LLC acquired a new position in Analog Devices in the third quarter valued at about $210,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 1.4 %

Shares of NASDAQ ADI opened at $211.68 on Tuesday. The company’s 50 day moving average price is $217.96 and its 200-day moving average price is $220.40. 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, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The company has a market capitalization of $104.99 billion, a P/E ratio of 67.41, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued 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. 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 for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were 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 of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.87%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ADI shares. UBS Group raised their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted 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. Piper Sandler reduced their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley boosted their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company upped their price objective on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices 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.