Heritage Wealth Advisors Sells 284 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Heritage Wealth Advisors lowered its stake in Analog Devices, Inc. (NASDAQ:ADI) by 40.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 418 shares of the semiconductor company’s stock after selling 284 shares during the period. Heritage Wealth Advisors’ holdings in Analog Devices were worth $89,000 at the end of the most recent quarter.

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

Analog Devices Stock Down 1.4 %

Analog Devices stock opened at $210.53 on Thursday. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The stock has a fifty day simple moving average of $216.98 and a two-hundred day simple moving average of $219.72. 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 firm has a market cap of $104.42 billion, a price-to-earnings ratio of 67.05, a PEG ratio of 2.85 and a beta of 1.07.

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

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. 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 1.88%. Analog Devices’s payout ratio is currently 126.11%.

Insider Activity

In other news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the sale, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This trade represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock valued at $7,746,500 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $270.00 price objective (up from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Morgan Stanley raised their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Lake Street Capital started coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $255.41.

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.