Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Adero Partners LLC

Adero Partners LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,136 shares of the semiconductor company’s stock after selling 122 shares during the period. Adero Partners LLC’s holdings in Analog Devices were worth $229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADI. Broderick Brian C raised its stake in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company’s stock worth $16,831,000 after purchasing an additional 2,017 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Analog Devices during the 4th quarter worth $10,212,000. CIBC Asset Management Inc lifted its stake in shares of Analog Devices by 2.0% in the 4th quarter. CIBC Asset Management Inc now owns 183,227 shares of the semiconductor company’s stock worth $38,928,000 after acquiring an additional 3,529 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Analog Devices in the fourth quarter valued at about $906,000. Finally, Truist Financial Corp increased its stake in shares of Analog Devices by 0.6% during the fourth quarter. Truist Financial Corp now owns 1,489,162 shares of the semiconductor company’s stock worth $316,387,000 after acquiring an additional 9,202 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director now directly owns 180,071 shares of the company’s stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer now owns 142,996 shares of the company’s stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,934 shares of company stock valued at $6,643,956. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Analog Devices from $205.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday. Citigroup raised their price target on Analog Devices from $235.00 to $260.00 and gave the company a “buy” rating in a report on Monday, May 19th. Piper Sandler dropped their price objective on Analog Devices from $240.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Evercore ISI increased their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, May 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Analog Devices from $225.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $250.50.

Analog Devices Stock Performance

NASDAQ ADI opened at $231.80 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The business has a fifty day moving average of $206.26 and a 200-day moving average of $210.80. The stock has a market cap of $115.03 billion, a price-to-earnings ratio of 73.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.71%. Analog Devices’s payout ratio is currently 107.90%.

Analog Devices 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.