Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Reduced by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 216,905 shares of the semiconductor company’s stock after selling 8,386 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Analog Devices were worth $46,084,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have commented on ADI shares. Williams Trading set a $245.00 price target on Analog Devices in a report on Friday, February 14th. Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Lake Street Capital initiated coverage on Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Finally, Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.05.

Insider Transactions at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,809 shares of company stock worth $6,154,756. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 0.2 %

Shares of ADI opened at $176.27 on Friday. The stock has a 50 day simple moving average of $206.55 and a 200-day simple moving average of $214.66. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market cap of $87.43 billion, a PE ratio of 56.14, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 EPS. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued 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 dividend yield of 2.25%. 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 stock buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.