Good Life Advisors LLC Sells 726 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Good Life Advisors LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 26.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,049 shares of the semiconductor company’s stock after selling 726 shares during the period. Good Life Advisors LLC’s holdings in Analog Devices were worth $435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter worth approximately $28,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners purchased a new position in shares of Analog Devices in the fourth quarter worth $33,000. Peterson Financial Group Inc. bought a new stake in Analog Devices during the 3rd quarter valued at $43,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices during the 4th quarter valued at $41,000. Institutional investors own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday. Oppenheimer restated an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday. Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. UBS Group boosted their target price on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Truist Financial upped their target price on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.19.

Analog Devices Stock Performance

Shares of ADI opened at $243.82 on Friday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $120.96 billion, a P/E ratio of 74.11, a P/E/G ratio of 2.53 and a beta of 1.04. The business’s 50 day moving average price is $215.06 and its 200-day moving average price is $219.97.

Analog Devices (NASDAQ:ADI) last released its 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. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices announced that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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. This represents a $3.96 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analog Devices Company 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.