Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,470 shares of the semiconductor company’s stock after selling 1,627 shares during the period. Mutual of America Capital Management LLC’s holdings in Analog Devices were worth $12,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the 3rd quarter worth about $28,000. Archer Investment Corp grew its holdings in 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 acquiring an additional 73 shares during the period. Financial Life Planners purchased a new position in Analog Devices during the fourth quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new position in Analog Devices in the third quarter valued at approximately $43,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ADI. Lake Street Capital began coverage on shares of Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley raised their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Maxim Group began coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Analog Devices Stock Up 2.7 %

ADI stock opened at $229.82 on Friday. The firm has a market cap of $113.99 billion, a PE ratio of 73.19, a P/E/G ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month 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 firm has a 50 day simple moving average of $217.55 and a 200 day simple moving average of $221.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 EPS. Equities research analysts forecast 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 approved a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed 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 1.72%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend 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.