First Trust Advisors LP Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

First Trust Advisors LP trimmed its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,367,083 shares of the semiconductor company's stock after selling 84,723 shares during the period. First Trust Advisors LP owned 0.28% of Analog Devices worth $290,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in Analog Devices during the fourth quarter valued at approximately $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter valued at $30,000. Cassady Schiller Wealth Management LLC increased its holdings in 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 in the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices in the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Analog Devices during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Stock Up 6.9 %

Shares of ADI traded up $12.62 during mid-day trading on Thursday, reaching $195.73. The company's stock had a trading volume of 2,726,438 shares, compared to its average volume of 3,459,800. The company's 50 day moving average is $204.15 and its 200 day moving average is $213.32. 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 stock has a market cap of $97.08 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $1.73 EPS. The company's revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.02%. Analog Devices's dividend payout ratio is 126.11%.

Analog Devices declared that its board has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on ADI shares. Stifel Nicolaus lowered their price target on Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, April 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 report on Thursday, February 20th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Thursday, February 20th. Lake Street Capital initiated coverage on Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Finally, Maxim Group began coverage on Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $250.43.

Insider Buying and Selling

In related news, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction on 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 transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, the director now owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,809 shares of company stock worth $6,154,756 in the last quarter. 0.33% of the stock is owned by insiders.

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.