Burling Wealth Partners LLC Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

Burling Wealth Partners LLC bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,426 shares of the semiconductor company's stock, valued at approximately $515,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Analog Devices during the 4th quarter valued at about $1,755,958,000. Raymond James Financial Inc. purchased a new position in Analog Devices in the fourth quarter valued at about $833,386,000. Proficio Capital Partners LLC grew its holdings in Analog Devices by 22,005.0% during the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company's stock worth $652,943,000 after acquiring an additional 3,059,349 shares in the last quarter. Franklin Resources Inc. increased its holdings in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Analog Devices during the 4th quarter valued at approximately $111,470,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Down 0.4 %

Shares of Analog Devices stock traded down $0.87 during midday trading on Monday, reaching $193.72. 3,400,777 shares of the company's stock traded hands, compared to its average volume of 3,459,521. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company's 50 day simple moving average is $203.25 and its 200 day simple moving average is $212.60. The company has a market cap of $96.08 billion, a price-to-earnings ratio of 61.69, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its 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 business's revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $1.73 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding 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 generally an indication that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

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

Insider Transactions at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This trade represents a 22.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value 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. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,809 shares of company stock worth $6,154,756. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

ADI has been the subject of a number of research reports. Truist Financial lifted 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. Wells Fargo & Company lifted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Citigroup decreased their price objective on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating for the company in a report on Friday, April 11th. UBS Group upped their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.