Checchi Capital Advisers LLC Sells 471 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Checchi Capital Advisers LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,207 shares of the semiconductor company’s stock after selling 471 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Analog Devices were worth $1,319,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Sabal Trust CO increased its holdings in shares of Analog Devices by 26.5% in the fourth quarter. Sabal Trust CO now owns 12,084 shares of the semiconductor company’s stock worth $2,567,000 after purchasing an additional 2,529 shares during the last quarter. Bryn Mawr Capital Management LLC grew its position in Analog Devices by 1.3% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,600 shares of the semiconductor company’s stock worth $8,201,000 after acquiring an additional 502 shares in the last quarter. National Pension Service grew its position in Analog Devices by 0.8% in the fourth quarter. National Pension Service now owns 1,039,475 shares of the semiconductor company’s stock worth $220,847,000 after acquiring an additional 8,716 shares in the last quarter. Gray Foundation purchased a new position in Analog Devices in the fourth quarter worth about $1,700,000. Finally, FourThought Financial Partners LLC purchased a new position in Analog Devices in the fourth quarter worth about $595,000. 86.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Analog Devices 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 transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Stock Down 0.7 %

Shares of NASDAQ:ADI opened at $233.73 on Thursday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The stock has a market cap of $115.92 billion, a P/E ratio of 74.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. The business’s 50 day moving average is $216.87 and its 200 day moving average is $220.90. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its 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 analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

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 buy up to 9.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is currently 126.11%.

Analysts Set New Price Targets

Several research firms recently commented on ADI. Wells Fargo & Company lifted their price target on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Benchmark lifted their price target on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.41.

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.