Cerity Partners LLC Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Cerity Partners LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 247,923 shares of the semiconductor company's stock after selling 7,516 shares during the quarter. Cerity Partners LLC's holdings in Analog Devices were worth $53,266,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC raised its position in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock valued at $30,000 after buying an additional 55 shares during the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices in the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices during the fourth quarter worth about $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Up 0.4 %

ADI stock traded up $0.80 during mid-day trading on Friday, reaching $179.16. The company had a trading volume of 6,528,835 shares, compared to its average volume of 3,445,145. The firm has a fifty day simple moving average of $208.90 and a 200 day simple moving average of $215.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The company has a market capitalization of $88.86 billion, a price-to-earnings ratio of 57.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10.

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Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter last year, the company earned $1.73 earnings per share. The firm's revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's dividend payout ratio is currently 126.11%.

Insider Activity

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,684 shares of company stock worth $5,591,600. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of research reports. Citigroup decreased their target price on shares of Analog Devices from $265.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday. Truist Financial boosted their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating for the company. UBS Group boosted their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.73.

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.