OneAscent Financial Services LLC Buys New Shares in Analog Devices, Inc. (NASDAQ:ADI)

OneAscent Financial Services LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,881 shares of the semiconductor company's stock, valued at approximately $400,000.

Other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after buying an additional 55 shares during the last quarter. Financial Life Planners bought a new stake in shares of Analog Devices during the fourth quarter worth approximately $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices in the fourth quarter valued at approximately $41,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Williams Trading set a $245.00 price objective on Analog Devices in a report on Friday, February 14th. Truist Financial upped their price target on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. Lake Street Capital started coverage on shares of Analog Devices in a report on Friday, February 14th. They set a "buy" rating for the company. Finally, Morgan Stanley increased their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an "overweight" rating in a report 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 data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $255.41.

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Insider Activity at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,684 shares of company stock worth $5,591,600 in the last three months. 0.33% of the stock is owned by insiders.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $6.74 on Monday, reaching $171.34. The stock had a trading volume of 10,114,766 shares, compared to its average volume of 3,972,747. The business's 50 day moving average is $213.22 and its two-hundred day moving average is $218.28. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The company has a market cap of $84.98 billion, a P/E ratio of 54.57, 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 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm's revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current 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 paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.31%. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices's payout ratio is presently 126.11%.

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

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.