Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,465 shares of the semiconductor company’s stock after purchasing an additional 562 shares during the period. Proficio Capital Partners LLC’s holdings in Analog Devices were worth $3,073,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Bank of Hawaii grew 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 boosted its stake in Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after buying an additional 54 shares during the period. West Oak Capital LLC increased its position in shares of Analog Devices by 0.4% during 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 last quarter. D.A. Davidson & CO. raised its stake in shares of Analog Devices by 0.8% in the 3rd 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 lifted its holdings in shares of Analog Devices by 4.3% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company’s stock worth $299,000 after acquiring an additional 58 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 1.2 %

Shares of NASDAQ ADI opened at $209.16 on Wednesday. The business has a 50-day moving average of $217.83 and a two-hundred day moving average of $220.22. The company has a market capitalization of $103.74 billion, a price-to-earnings ratio of 66.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.89%. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 126.11%.

Analog Devices declared that its board has initiated a stock repurchase program 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 programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ADI. Truist Financial lifted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

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.