Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Everhart Financial Group Inc.

Everhart Financial Group Inc. grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 29.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,116 shares of the semiconductor company’s stock after buying an additional 933 shares during the quarter. Everhart Financial Group Inc.’s holdings in Analog Devices were worth $830,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ADI. Brighton Jones LLC lifted its holdings in shares of Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 529 shares during the period. Sovran Advisors LLC acquired a new position in Analog Devices during the fourth quarter worth $261,000. Avestar Capital LLC raised its holdings in Analog Devices by 9.9% during the fourth quarter. Avestar Capital LLC now owns 4,156 shares of the semiconductor company’s stock worth $883,000 after purchasing an additional 375 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Analog Devices by 0.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 197,094 shares of the semiconductor company’s stock worth $42,767,000 after purchasing an additional 590 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in Analog Devices by 2.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,658 shares of the semiconductor company’s stock worth $990,000 after purchasing an additional 110 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Williams Trading set a $260.00 price objective on Analog Devices in a report on Friday, May 23rd. Cowen reaffirmed a “buy” rating on shares of Analog Devices in a report on Friday, May 23rd. Citigroup lifted their price objective on Analog Devices from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Piper Sandler reduced their price objective on Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Finally, Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.63.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at approximately $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director now directly owns 180,071 shares of the company’s stock, valued at approximately $35,265,104.64. This trade represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,934 shares of company stock valued at $6,643,956. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $225.03 on Friday. The company has a market cap of $111.67 billion, a P/E ratio of 71.67, a P/E/G ratio of 2.85 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The business has a fifty day simple moving average of $204.95 and a 200-day simple moving average of $210.79.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

Analog Devices declared that its Board of Directors has approved a share buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is 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.