Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,186 shares of the semiconductor company’s stock after selling 2,692 shares during the quarter. Guggenheim Capital LLC’s holdings in Analog Devices were worth $46,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices in the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC lifted its position in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices in the fourth quarter valued at $33,000. Finally, Kestra Investment Management LLC purchased a new position in Analog Devices in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,684 shares of company stock valued at $5,591,600. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on ADI shares. Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Benchmark increased their target price on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Maxim Group started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, UBS Group raised their price objective 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. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.73.

Analog Devices Stock Performance

Shares of ADI stock opened at $178.60 on Tuesday. The company has a market capitalization of $88.58 billion, a price-to-earnings ratio of 56.88, a P/E/G ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.10. 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 stock’s fifty day simple moving average is $208.27 and its 200-day simple moving average is $215.55.

Analog Devices (NASDAQ:ADI) last released 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 company had revenue of $2.42 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is currently 126.11%.

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.