Moment Partners LLC Buys Shares of 2,223 Analog Devices, Inc. (NASDAQ:ADI)

Moment Partners LLC purchased a new position in shares of 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 purchased 2,223 shares of the semiconductor company’s stock, valued at approximately $472,000.

Several other institutional investors and hedge funds have also modified their holdings of ADI. Mainstream Capital Management LLC acquired a new position in Analog Devices during the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC boosted its position in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Financial Life Planners bought a new stake in shares of Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the fourth quarter worth $41,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADI shares. Williams Trading set a $245.00 price objective on Analog Devices in a research report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Maxim Group began coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Finally, Truist Financial increased their target price on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Transactions at Analog Devices

In other Analog Devices news, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,684 shares of company stock valued at $7,746,500. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Down 1.4 %

Shares of Analog Devices stock opened at $210.53 on Thursday. The company’s 50-day moving average price is $216.98 and its 200-day moving average price is $219.72. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The company has a market cap of $104.42 billion, a price-to-earnings ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07.

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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business earned $1.73 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its board has approved a stock buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.