Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by SP Asset Management LLC

SP Asset Management LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,686 shares of the semiconductor company’s stock after selling 673 shares during the quarter. Analog Devices comprises 1.3% of SP Asset Management LLC’s portfolio, making the stock its 19th largest position. SP Asset Management LLC’s holdings in Analog Devices were worth $16,080,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ADI. Swedbank AB grew its stake in shares of Analog Devices by 6.7% in the third quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after buying an additional 180,870 shares in the last quarter. Impax Asset Management Group plc grew its stake in Analog Devices by 7.7% during the 3rd quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock valued at $352,728,000 after purchasing an additional 110,448 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in Analog Devices by 67.0% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 795 shares of the semiconductor company’s stock valued at $183,000 after purchasing an additional 319 shares in the last quarter. HF Advisory Group LLC grew its stake in Analog Devices by 10.9% during the 3rd quarter. HF Advisory Group LLC now owns 4,430 shares of the semiconductor company’s stock valued at $1,020,000 after purchasing an additional 436 shares in the last quarter. Finally, Catalina Capital Group LLC grew its stake in Analog Devices by 6.0% during the 3rd quarter. Catalina Capital Group LLC now owns 3,125 shares of the semiconductor company’s stock valued at $719,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Up 1.5 %

Shares of NASDAQ ADI opened at $229.47 on Thursday. The stock’s 50 day simple moving average is $218.21 and its 200 day simple moving average is $221.22. 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 has a market cap of $113.81 billion, a price-to-earnings ratio of 73.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. Equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has approved a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.73%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent analyst reports. TD Cowen lowered their price objective 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. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. UBS Group raised their price objective on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Benchmark raised their price objective on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus 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.