Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Lessened by Lifeworks Advisors LLC

Lifeworks Advisors LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 37.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,219 shares of the semiconductor company’s stock after selling 730 shares during the period. Lifeworks Advisors LLC’s holdings in Analog Devices were worth $259,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Analog Devices by 26.3% in the fourth quarter. Larson Financial Group LLC now owns 566 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 118 shares in the last quarter. HM Payson & Co. increased its stake in Analog Devices by 16.3% in the 4th quarter. HM Payson & Co. now owns 4,608 shares of the semiconductor company’s stock valued at $979,000 after buying an additional 646 shares during the period. PNC Financial Services Group Inc. lifted its position in Analog Devices by 3.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 155,342 shares of the semiconductor company’s stock worth $33,004,000 after buying an additional 5,529 shares in the last quarter. Banco Santander S.A. increased its stake in shares of Analog Devices by 21.6% in the fourth quarter. Banco Santander S.A. now owns 5,568 shares of the semiconductor company’s stock worth $1,183,000 after acquiring an additional 989 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Analog Devices by 6.7% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 577,972 shares of the semiconductor company’s stock worth $132,293,000 after purchasing an additional 36,196 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on ADI. Piper Sandler decreased their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. 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 report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Finally, Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Performance

Shares of ADI stock opened at $225.86 on Friday. 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 firm has a fifty day simple moving average of $218.48 and a two-hundred day simple moving average of $221.21. The firm has a market capitalization of $112.02 billion, a PE ratio of 71.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping 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 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 firm posted $1.73 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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 given a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.75%. Analog Devices’s payout ratio is currently 126.11%.

Analog Devices declared that its Board of Directors has authorized 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 buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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.