Commonwealth Equity Services LLC Acquires 7,446 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Commonwealth Equity Services LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,570 shares of the semiconductor company's stock after purchasing an additional 7,446 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Analog Devices worth $65,559,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Hopwood Financial Services Inc. bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Archer Investment Corp lifted its holdings in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 73 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the 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 transaction, the chief executive officer now directly owns 64,918 shares of the company's stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Truist Financial increased their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.41.

Analog Devices Trading Down 1.2 %

Shares of ADI traded down $2.52 during trading hours on Tuesday, hitting $209.16. 2,657,007 shares of the stock were exchanged, compared to its average volume of 3,854,845. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two 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 1.43. The business has a 50-day moving average of $217.96 and a 200-day moving average of $220.40. The firm has a market capitalization of $103.74 billion, a P/E ratio of 66.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 earnings per share. On average, research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices declared that its Board of Directors has initiated a stock buyback 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.89%. Analog Devices's dividend payout ratio is currently 126.11%.

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.