AIMZ Investment Advisors LLC Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

AIMZ Investment Advisors LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,350 shares of the semiconductor company’s stock after selling 99 shares during the period. AIMZ Investment Advisors LLC’s holdings in Analog Devices were worth $2,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Charles Schwab Investment Management Inc. raised its holdings in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares in the last quarter. Swiss National Bank raised its stake in shares of Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp bought a new position in shares of Analog Devices during the 4th quarter valued at $460,000. Finally, Summit Global Investments purchased a new position in Analog Devices in the 3rd quarter worth $867,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent research reports. Truist Financial raised their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Oppenheimer reissued an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Barclays decreased their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Benchmark increased their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $255.41.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

ADI opened at $223.85 on Friday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a market cap of $111.02 billion, a price-to-earnings ratio of 71.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. 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 stock has a fifty day simple moving average of $217.19 and a two-hundred day simple moving average of $220.92.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $1.73 EPS. Research analysts predict 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. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.77%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board 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.