Exencial Wealth Advisors LLC Acquires 3,094 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Exencial Wealth Advisors LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 174.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,868 shares of the semiconductor company’s stock after acquiring an additional 3,094 shares during the period. Exencial Wealth Advisors LLC’s holdings in Analog Devices were worth $1,034,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position 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 worth $623,399,000 after acquiring an additional 39,186 shares during the last quarter. Swiss National Bank lifted its holdings 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 worth $339,012,000 after buying an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings 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 worth $5,264,000 after buying an additional 7,386 shares during the period. Curbstone Financial Management Corp acquired a new position in Analog Devices during the 4th quarter worth about $460,000. Finally, Summit Global Investments acquired a new position in Analog Devices during the 3rd quarter worth about $867,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts have commented on ADI shares. Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” 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 on the stock in a report on Wednesday, November 27th. Piper Sandler cut their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Williams Trading set a $245.00 target price on Analog Devices in a report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Performance

Shares of ADI opened at $229.47 on Thursday. The firm has a market capitalization of $113.81 billion, a P/E ratio of 73.08, a P/E/G ratio of 2.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock has a 50 day moving average price of $218.21 and a two-hundred day moving average price of $221.22. 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share. Equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management 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. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 1.73%. Analog Devices’s dividend 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.