Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,765 shares of the semiconductor company's stock after selling 1,760 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Analog Devices were worth $18,859,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADI. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter worth $30,000. Hopwood Financial Services Inc. bought a new position in Analog Devices in the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC grew its position in Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices during the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now owns 64,918 shares in the company, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on 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 sale, 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. In the last quarter, insiders sold 29,809 shares of company stock valued at $6,154,756. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Lake Street Capital began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating on the stock. UBS Group increased their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Stifel Nicolaus reduced their price objective on Analog Devices from $275.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley set a $214.00 price objective on Analog Devices in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $250.43.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $0.64 during trading hours on Friday, hitting $194.59. 3,206,756 shares of the company's stock traded hands, compared to its average volume of 3,457,828. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month 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 company has a fifty day simple moving average of $203.77 and a 200-day simple moving average of $213.11. The stock has a market capitalization of $96.51 billion, a price-to-earnings ratio of 61.97, 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 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.36 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

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