Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,380 shares of the semiconductor company’s stock after acquiring an additional 432 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Analog Devices were worth $936,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter worth about $28,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices during the fourth quarter worth about $33,000. Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the fourth quarter worth about $41,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the third quarter worth about $43,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADI shares. Morgan Stanley boosted their price objective on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Maxim Group initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Williams Trading set a $245.00 target price on Analog Devices in a research note on Friday, February 14th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

NASDAQ:ADI opened at $238.91 on Monday. The firm’s fifty day moving average price is $215.50 and its 200 day moving average price is $220.48. 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 1.35. The firm has a market cap of $118.49 billion, a price-to-earnings ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the firm posted $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.66%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 117.20%.

Analog Devices announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is 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.