Main Street Financial Solutions LLC Invests $300,000 in Analog Devices, Inc. (NASDAQ:ADI)

Main Street Financial Solutions LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,414 shares of the semiconductor company’s stock, valued at approximately $300,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Capital Financial Advisors LLC boosted its position in shares of Analog Devices by 38.3% during the 4th quarter. United Capital Financial Advisors LLC now owns 58,709 shares of the semiconductor company’s stock valued at $12,473,000 after acquiring an additional 16,254 shares during the last quarter. Delaney Dennis R grew its stake in shares of Analog Devices by 1.7% in the 4th quarter. Delaney Dennis R now owns 30,270 shares of the semiconductor company’s stock valued at $6,431,000 after buying an additional 495 shares during the period. Jump Financial LLC increased its holdings in shares of Analog Devices by 4.0% during the 4th quarter. Jump Financial LLC now owns 1,888 shares of the semiconductor company’s stock worth $401,000 after buying an additional 73 shares during the last quarter. Dagco Inc. lifted its holdings in Analog Devices by 0.7% in the fourth quarter. Dagco Inc. now owns 10,748 shares of the semiconductor company’s stock valued at $2,284,000 after acquiring an additional 78 shares during the last quarter. Finally, Causeway Capital Management LLC increased its stake in Analog Devices by 7.6% during the fourth quarter. Causeway Capital Management LLC now owns 366,558 shares of the semiconductor company’s stock worth $77,879,000 after acquiring an additional 25,842 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Truist Financial lifted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Oppenheimer restated an “outperform” rating and issued a $270.00 price objective (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.05.

Analog Devices Trading Up 0.2 %

Shares of NASDAQ:ADI opened at $176.27 on Friday. The company has a market cap of $87.43 billion, a PE ratio of 56.14, a P/E/G ratio of 2.85 and a beta of 1.06. The company’s 50 day moving average is $206.55 and its two-hundred day moving average is $214.66. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

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

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 2.25%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Analog Devices announced that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. The trade was a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,809 shares of company stock worth $6,154,756. 0.33% of the stock is currently owned by insiders.

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.