Amalgamated Bank Sells 4,790 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Amalgamated Bank decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,996 shares of the semiconductor company’s stock after selling 4,790 shares during the period. Amalgamated Bank’s holdings in Analog Devices were worth $20,183,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Hawaii raised its position in Analog Devices by 4.8% during the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares in the last quarter. MONECO Advisors LLC grew its stake in shares of Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after buying an additional 50 shares during the last quarter. NTV Asset Management LLC lifted its stake in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 54 shares during the last quarter. West Oak Capital LLC boosted its holdings in shares of Analog Devices by 0.4% during the 4th quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company’s stock valued at $2,658,000 after acquiring an additional 55 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Analog Devices by 0.8% in the third quarter. D.A. Davidson & CO. now owns 6,810 shares of the semiconductor company’s stock valued at $1,568,000 after purchasing an additional 57 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ADI shares. Lake Street Capital assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Morgan Stanley boosted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Benchmark lifted their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.41.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. 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. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.8 %

Shares of ADI opened at $236.99 on Tuesday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The firm has a market cap of $117.54 billion, a P/E ratio of 75.47, a P/E/G ratio of 2.85 and a beta of 1.04. The stock has a 50 day simple moving average of $215.92 and a two-hundred day simple moving average of $220.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 EPS. Analog Devices’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.67%. Analog Devices’s payout ratio is presently 117.20%.

Analog Devices declared that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.