Pinnacle Wealth Planning Services Inc. Sells 1,163 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pinnacle Wealth Planning Services Inc. decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 30.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,656 shares of the semiconductor company’s stock after selling 1,163 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Analog Devices were worth $564,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of Hawaii increased its holdings in shares of Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the period. NTV Asset Management LLC increased its stake in Analog Devices by 2.7% in the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 54 shares during the period. West Oak Capital LLC increased its stake in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares during the period. D.A. Davidson & CO. increased its stake in Analog Devices by 0.8% in the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock valued at $1,568,000 after acquiring an additional 57 shares during the period. Finally, Relyea Zuckerberg Hanson LLC increased its stake in Analog Devices by 4.3% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company’s stock valued at $299,000 after acquiring an additional 58 shares during the period. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. 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 the SEC website. 0.33% of the stock is currently owned by insiders.

Analog Devices Price Performance

Shares of ADI stock opened at $222.77 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm’s 50 day moving average is $218.30 and its 200-day moving average is $221.23. The firm has a market capitalization of $110.49 billion, a price-to-earnings ratio of 70.95, a PEG ratio of 2.85 and a beta of 1.07. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices’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 forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Wall Street Analyst Weigh In

ADI has been the topic of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price 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.