PUREfi Wealth LLC Makes New $438,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

PUREfi Wealth LLC acquired a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,059 shares of the semiconductor company's stock, valued at approximately $438,000.

Several other hedge funds have also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Analog Devices during the third quarter valued at approximately $28,000. Archer Investment Corp raised 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 valued at $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices during the fourth quarter valued at $33,000. Peterson Financial Group Inc. purchased a new stake in Analog Devices during the third quarter valued at $43,000. Finally, Reston Wealth Management LLC purchased a new stake in Analog Devices during the third quarter valued at $48,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ADI shares. Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Benchmark began coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating and a $245.00 target price on the stock. Truist Financial increased their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a research note on Friday, January 10th. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of "Moderate Buy" and a consensus price target of $248.52.

Analog Devices Stock Up 6.6 %

Analog Devices stock traded up $14.49 during midday trading on Wednesday, hitting $234.71. 4,458,478 shares of the company's stock were exchanged, compared to its average volume of 3,503,065. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The firm has a 50-day moving average of $214.04 and a two-hundred day moving average of $219.65. The company has a market cap of $116.44 billion, a PE ratio of 71.34, a P/E/G ratio of 2.46 and a beta of 1.04.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. As a group, analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

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 issued a $0.99 dividend. 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 1.69%. Analog Devices's dividend payout ratio (DPR) is currently 111.85%.

Analog Devices declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company's stock.

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.