Global Retirement Partners LLC Acquires 361 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Global Retirement Partners LLC increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,440 shares of the semiconductor company’s stock after acquiring an additional 361 shares during the quarter. Global Retirement Partners LLC’s holdings in Analog Devices were worth $1,581,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Atlas Legacy Advisors LLC acquired a new position in shares of Analog Devices during the fourth quarter valued at about $744,000. Mcdonald Partners LLC grew its position in Analog Devices by 3.9% during the fourth quarter. Mcdonald Partners LLC now owns 8,373 shares of the semiconductor company’s stock worth $1,779,000 after buying an additional 314 shares in the last quarter. Waycross Partners LLC increased its stake in Analog Devices by 3.8% during the fourth quarter. Waycross Partners LLC now owns 97,261 shares of the semiconductor company’s stock valued at $20,664,000 after acquiring an additional 3,567 shares during the period. BKM Wealth Management LLC raised its holdings in Analog Devices by 10.0% in the 4th quarter. BKM Wealth Management LLC now owns 11,948 shares of the semiconductor company’s stock valued at $2,538,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices in the 4th quarter valued at approximately $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 0.9 %

Shares of NASDAQ:ADI opened at $243.82 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market cap of $120.96 billion, a P/E ratio of 74.11, a P/E/G ratio of 2.53 and a beta of 1.04. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The company’s 50-day moving average price is $215.06 and its two-hundred day moving average price is $219.97.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 111.85%.

Analog Devices announced that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday. Truist Financial boosted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday. UBS Group increased their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen decreased their target price 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. Finally, Barclays dropped their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.19.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

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.