Benchmark Investment Advisors LLC Sells 4,053 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Benchmark Investment Advisors LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 65.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,156 shares of the semiconductor company's stock after selling 4,053 shares during the quarter. Benchmark Investment Advisors LLC's holdings in Analog Devices were worth $458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. United Bank boosted its holdings in shares of Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company's stock worth $1,394,000 after purchasing an additional 273 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Analog Devices by 3.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,030 shares of the semiconductor company's stock worth $927,000 after buying an additional 118 shares during the last quarter. Weiss Asset Management LP purchased a new stake in Analog Devices in the third quarter worth approximately $2,198,000. Worldquant Millennium Advisors LLC bought a new position in Analog Devices during the third quarter valued at approximately $11,045,000. Finally, Wellington Management Group LLP raised its stake in shares of Analog Devices by 16.6% during the third quarter. Wellington Management Group LLP now owns 43,349 shares of the semiconductor company's stock worth $9,978,000 after acquiring an additional 6,164 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on ADI. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research report on Friday, February 14th. Barclays reduced their price objective on 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. Maxim Group assumed coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating for the company. Finally, Truist Financial raised their price target on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at approximately $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,684 shares of company stock valued at $5,591,600 in the last three months. Company insiders own 0.33% of the company's stock.

Analog Devices Stock Down 0.4 %

Analog Devices stock traded down $0.80 during trading hours on Friday, hitting $177.56. 3,346,815 shares of the stock traded hands, compared to its average volume of 3,433,021. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The firm's 50-day moving average price is $209.43 and its two-hundred day moving average price is $216.37. 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 company has a market cap of $88.07 billion, a PE ratio of 55.92, a PEG ratio of 2.85 and a beta of 1.06.

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 the consensus estimate of $1.54 by $0.09. The company 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 was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.23%. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices's dividend payout ratio (DPR) is presently 126.11%.

Analog Devices announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is 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.