Venturi Wealth Management LLC Purchases 2,714 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Venturi Wealth Management LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 56.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,487 shares of the semiconductor company’s stock after purchasing an additional 2,714 shares during the quarter. Venturi Wealth Management LLC’s holdings in Analog Devices were worth $1,591,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ADI. Swedbank AB increased its position in shares of Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares during the last quarter. Vest Financial LLC grew its position in Analog Devices by 53.0% during the 3rd quarter. Vest Financial LLC now owns 4,725 shares of the semiconductor company’s stock worth $1,088,000 after acquiring an additional 1,636 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Analog Devices during the 3rd quarter worth approximately $80,000. Whittier Trust Co. grew its position in Analog Devices by 17.0% during the 3rd quarter. Whittier Trust Co. now owns 2,693 shares of the semiconductor company’s stock worth $620,000 after acquiring an additional 391 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Analog Devices by 3.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,828 shares of the semiconductor company’s stock worth $651,000 after acquiring an additional 92 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Up 2.6 %

ADI opened at $220.22 on Wednesday. The firm has a market cap of $109.25 billion, a price-to-earnings ratio of 66.94, a PEG ratio of 2.38 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The stock has a fifty day moving average price of $214.04 and a 200-day moving average price of $219.65.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.01 EPS. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.80%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 111.85%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADI. Truist Financial raised their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Morgan Stanley reduced their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.52.

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.