Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,240 shares of the semiconductor company’s stock after selling 1,373 shares during the period. Welch & Forbes LLC’s holdings in Analog Devices were worth $5,787,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp increased its stake in shares of Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after purchasing an additional 106,664 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares during the last quarter. FMR LLC lifted its holdings in shares of Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Analog Devices by 4.8% in the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock worth $1,058,364,000 after acquiring an additional 226,716 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Benchmark upped their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Trading Up 1.4 %

Shares of NASDAQ:ADI opened at $225.86 on Friday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company’s 50 day moving average is $218.48 and its two-hundred day moving average is $221.23. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market cap of $112.02 billion, a PE ratio of 71.93, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be given a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio is 126.11%.

Analog Devices announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

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.