Steward Partners Investment Advisory LLC Increases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Steward Partners Investment Advisory LLC grew its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,132 shares of the semiconductor company's stock after acquiring an additional 6,678 shares during the period. Steward Partners Investment Advisory LLC's holdings in Analog Devices were worth $19,574,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the 3rd quarter worth $28,000. Archer Investment Corp grew its position in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners purchased a new stake in shares of Analog Devices during the fourth quarter worth about $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the 3rd quarter worth about $43,000. Finally, Kestra Investment Management LLC purchased a new position in Analog Devices in the 4th quarter valued at about $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Down 0.4 %

Shares of ADI stock traded down $0.85 during trading hours on Thursday, hitting $228.62. The company had a trading volume of 976,265 shares, compared to its average volume of 3,838,840. 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 company's fifty day moving average is $218.21 and its 200 day moving average is $221.22. The stock has a market capitalization of $113.39 billion, a PE ratio of 72.71, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

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 return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The firm's revenue was down 3.6% compared to the same quarter last year. Research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This is an increase from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, March 4th. Analog Devices's payout ratio is currently 126.11%.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on ADI shares. Oppenheimer reiterated an "outperform" rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Wells Fargo & Company boosted their price target on Analog Devices from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Lake Street Capital assumed coverage on Analog Devices in a report on Friday, February 14th. They issued a "buy" rating on the stock. Barclays lowered their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Benchmark increased their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $255.41.

Analog Devices Company 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.