Callan Family Office LLC Makes New $1.60 Million Investment in Analog Devices, Inc. (NASDAQ:ADI)

Callan Family Office LLC bought a new position in Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,516 shares of the semiconductor company’s stock, valued at approximately $1,597,000.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter worth about $28,000. Mainstream Capital Management LLC purchased a new position in Analog Devices in the 4th quarter worth about $30,000. Archer Investment Corp raised its position in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in Analog Devices in the 4th quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new position in Analog Devices in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. UBS Group upped their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, 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 at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Trading Up 1.4 %

ADI stock opened at $225.86 on Friday. 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. The company has a market capitalization of $112.02 billion, a price-to-earnings ratio of 71.93, a PEG ratio of 2.85 and a beta of 1.07. The business has a 50 day simple moving average of $218.48 and a two-hundred day simple moving average of $221.23.

Analog Devices (NASDAQ:ADI) last posted its quarterly 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.75%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices announced that its Board of Directors has initiated a share repurchase 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 purchase 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 stock is undervalued.

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.