Wealth Alliance Acquires 1,059 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wealth Alliance boosted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 71.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,549 shares of the semiconductor company's stock after purchasing an additional 1,059 shares during the period. Wealth Alliance's holdings in Analog Devices were worth $542,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADI. Swedbank AB grew its holdings in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company's stock worth $666,137,000 after acquiring an additional 180,870 shares during the period. Whittier Trust Co. boosted its position in shares of Analog Devices by 17.0% during the 3rd quarter. Whittier Trust Co. now owns 2,693 shares of the semiconductor company's stock worth $620,000 after purchasing an additional 391 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in Analog Devices by 9.5% in the third quarter. Foundations Investment Advisors LLC now owns 2,020 shares of the semiconductor company's stock valued at $465,000 after acquiring an additional 176 shares during the period. Sequoia Financial Advisors LLC grew its stake in Analog Devices by 5.0% in the third quarter. Sequoia Financial Advisors LLC now owns 12,431 shares of the semiconductor company's stock valued at $2,861,000 after acquiring an additional 587 shares during the period. Finally, Private Advisor Group LLC raised its position in shares of Analog Devices by 6.4% during the third quarter. Private Advisor Group LLC now owns 20,936 shares of the semiconductor company's stock worth $4,818,000 after purchasing an additional 1,264 shares during the period. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

Shares of ADI traded down $4.91 during mid-day trading on Friday, hitting $238.91. The stock had a trading volume of 6,176,402 shares, compared to its average volume of 3,812,068. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35. The business has a fifty day moving average price of $215.06 and a 200-day moving average price of $219.97. The firm has a market cap of $118.52 billion, a P/E ratio of 76.09, a PEG ratio of 2.76 and a beta of 1.04.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 7.11 EPS for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.66%. 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 the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares of the company's stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday. Truist Financial raised their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research report on Thursday. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday. Finally, TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $255.19.

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.