Analog Devices, Inc. (NASDAQ:ADI) Position Reduced by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,909 shares of the semiconductor company’s stock after selling 627 shares during the quarter. Farther Finance Advisors LLC’s holdings in Analog Devices were worth $830,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in 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 acquiring an additional 39,186 shares during the last quarter. Swiss National Bank boosted its stake in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after acquiring an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Analog Devices by 47.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after acquiring an additional 7,386 shares during the last quarter. Curbstone Financial Management Corp bought a new position in Analog Devices during the 4th quarter valued at $460,000. Finally, Czech National Bank boosted its stake in Analog Devices by 6.5% during the 4th quarter. Czech National Bank now owns 107,650 shares of the semiconductor company’s stock valued at $22,871,000 after acquiring an additional 6,566 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at $13,575,652.16. The trade was a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of a number of recent research reports. TD Cowen reduced their price target 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. Oppenheimer restated an “outperform” rating and issued a $270.00 price target (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Finally, Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Up 2.4 %

Analog Devices stock opened at $208.75 on Friday. The stock has a market cap of $103.53 billion, a price-to-earnings ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07. 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 company’s 50-day moving average price is $218.09 and its two-hundred day moving average price is $220.66. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10.

Analog Devices (NASDAQ:ADI) last released its 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. The firm had revenue of $2.42 billion for 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. On average, analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has approved 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.90%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

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.