Wealthspire Advisors LLC Trims Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Wealthspire Advisors LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,072 shares of the semiconductor company’s stock after selling 177 shares during the period. Wealthspire Advisors LLC’s holdings in Analog Devices were worth $1,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ADI. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the 3rd quarter valued at approximately $28,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners purchased a new stake in shares of Analog Devices during the fourth quarter worth approximately $33,000. Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $41,000. Finally, Peterson Financial Group Inc. purchased a new position in Analog Devices in the 3rd quarter valued at $43,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Down 0.7 %

Shares of Analog Devices stock opened at $235.30 on Wednesday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The business has a 50 day moving average price of $216.35 and a 200 day moving average price of $220.81. The company has a market capitalization of $116.70 billion, a P/E ratio of 74.94, a P/E/G ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping 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 return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. Barclays cut their price objective 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. Benchmark increased their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Morgan Stanley lifted their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Williams Trading set a $245.00 price target on Analog Devices in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

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.