Accredited Investors Inc. Has $633,000 Stake in Analog Devices, Inc. (NASDAQ:ADI)

Accredited Investors Inc. decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 25.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,980 shares of the semiconductor company’s stock after selling 1,035 shares during the period. Accredited Investors Inc.’s holdings in Analog Devices were worth $633,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Treasurer of the State of North Carolina boosted its position in shares of Analog Devices by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 261,169 shares of the semiconductor company’s stock worth $55,488,000 after purchasing an additional 1,964 shares in the last quarter. Legacy Financial Advisors Inc. boosted its stake in shares of Analog Devices by 6.8% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,826 shares of the semiconductor company’s stock valued at $813,000 after purchasing an additional 243 shares during the period. Bessemer Group Inc. raised its position in Analog Devices by 2.2% during the 4th quarter. Bessemer Group Inc. now owns 37,111 shares of the semiconductor company’s stock valued at $7,884,000 after purchasing an additional 801 shares during the last quarter. DRW Securities LLC lifted its position in Analog Devices by 193.5% during the fourth quarter. DRW Securities LLC now owns 3,939 shares of the semiconductor company’s stock valued at $837,000 after buying an additional 2,597 shares during the period. Finally, APG Asset Management N.V. purchased a new stake in Analog Devices during the 4th quarter valued at $55,377,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Up 12.1 %

Shares of ADI stock opened at $186.14 on Thursday. The firm has a fifty day moving average of $209.97 and a 200-day moving average of $216.71. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The stock has a market cap of $92.32 billion, a price-to-earnings ratio of 62.62, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) 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 analysts’ expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized 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 purchase up to 9.2% of its stock through open market purchases. Stock repurchase 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 was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 2.13%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays lowered their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Benchmark boosted 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. Truist Financial lifted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Lake Street Capital started coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $255.41.

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.