Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by West Family Investments Inc.

West Family Investments Inc. cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 45.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 951 shares of the semiconductor company’s stock after selling 806 shares during the quarter. West Family Investments Inc.’s holdings in Analog Devices were worth $202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADI. Swedbank AB boosted its stake in shares of Analog Devices by 6.7% in the 3rd 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 during the period. Impax Asset Management Group plc lifted its stake in Analog Devices by 7.7% in the third quarter. Impax Asset Management Group plc now owns 1,536,463 shares of the semiconductor company’s stock worth $352,728,000 after acquiring an additional 110,448 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Analog Devices by 2.7% in the third quarter. Principal Financial Group Inc. now owns 605,596 shares of the semiconductor company’s stock worth $139,390,000 after acquiring an additional 16,051 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in Analog Devices during the 3rd quarter worth approximately $4,219,000. Finally, Consolidated Planning Corp raised its holdings in shares of Analog Devices by 59.9% in the 3rd quarter. Consolidated Planning Corp now owns 2,763 shares of the semiconductor company’s stock valued at $636,000 after purchasing an additional 1,035 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Benchmark upped their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Finally, Oppenheimer reissued an “outperform” rating and set a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $225.86 on Friday. The stock’s 50-day moving average price is $218.48 and its 200 day moving average price is $221.23. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $112.02 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. 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 quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices announced that its board has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Analog Devices

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.