Atlanta Consulting Group Advisors LLC Sells 640 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Atlanta Consulting Group Advisors LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,569 shares of the semiconductor company’s stock after selling 640 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Analog Devices were worth $333,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in Analog Devices during the 4th quarter worth approximately $30,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $30,000. Financial Life Planners acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the 3rd quarter worth approximately $43,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADI shares. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark raised their price objective on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Up 2.4 %

ADI stock opened at $208.75 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $103.53 billion, a PE ratio of 66.48, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The stock has a 50-day simple moving average of $218.09 and a two-hundred day simple moving average of $220.53.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate 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 firm earned $1.73 earnings per share. Analog Devices’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued 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 is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.90%. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.

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.