Providence First Trust Co Sells 420 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Providence First Trust Co decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,325 shares of the semiconductor company’s stock after selling 420 shares during the quarter. Providence First Trust Co’s holdings in Analog Devices were worth $706,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices during the 3rd quarter worth $28,000. Archer Investment Corp grew its stake 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 buying an additional 73 shares in the last quarter. Financial Life Planners acquired a new stake in Analog Devices during the fourth quarter worth about $33,000. Peterson Financial Group Inc. bought a new position in Analog Devices in the 3rd quarter valued at about $43,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices in the 4th quarter valued at approximately $41,000. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

NASDAQ ADI opened at $229.82 on Friday. The company has a market capitalization of $113.99 billion, a price-to-earnings ratio of 73.19, a PEG ratio of 2.85 and a beta of 1.04. 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 twelve month low of $182.57 and a twelve month high of $247.10. The stock has a fifty day simple moving average of $217.55 and a 200 day simple moving average of $221.05.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates 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 was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

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

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is 126.11%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADI. Morgan Stanley increased their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Lake Street Capital initiated coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.