Commonwealth Retirement Investments LLC Sells 300 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Commonwealth Retirement Investments LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,522 shares of the semiconductor company’s stock after selling 300 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Analog Devices were worth $961,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp lifted its position 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 valued at $33,000 after acquiring an additional 73 shares during the period. Financial Life Planners acquired a new stake in shares of Analog Devices during the 4th quarter worth $33,000. Kestra Investment Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth $41,000. Finally, Peterson Financial Group Inc. acquired a new position in Analog Devices in the third quarter valued at about $43,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Down 0.8 %

NASDAQ:ADI opened at $236.99 on Tuesday. Analog Devices, Inc. has a one year low of $182.57 and a one year 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 market cap of $117.54 billion, a PE ratio of 75.47, a P/E/G ratio of 2.85 and a beta of 1.04. The firm’s 50 day simple moving average is $215.92 and its 200 day simple moving average is $220.64.

Analog Devices (NASDAQ:ADI) last issued 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. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates 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 was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.67%. Analog Devices’s dividend payout ratio is presently 117.20%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of analyst reports. Benchmark increased their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Barclays lowered 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 report on Friday, January 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.41.

About Analog Devices

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.