Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 57.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,787 shares of the semiconductor company's stock after selling 2,461 shares during the period. Johnson Financial Group Inc.'s holdings in Analog Devices were worth $379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the 4th quarter worth approximately $30,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC boosted its stake in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Trading Down 0.3 %

Shares of ADI opened at $194.59 on Monday. 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 12-month low of $158.65 and a 12-month high of $247.10. The firm has a market capitalization of $96.51 billion, a PE ratio of 61.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The stock's fifty day simple moving average is $203.25 and its 200-day simple moving average is $212.60.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results 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. The business 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 firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

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

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio (DPR) is 126.11%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares of the company's stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,809 shares of company stock worth $6,154,756 in the last quarter. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Morgan Stanley set a $214.00 target price on Analog Devices in a research note on Monday, April 21st. Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and a consensus price target of $250.43.

Analog Devices Company 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.

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