Tolleson Wealth Management Inc. Buys New Stake in Analog Devices, Inc. (NASDAQ:ADI)

Tolleson Wealth Management Inc. bought a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,398 shares of the semiconductor company’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in shares of Analog Devices in the fourth quarter worth $30,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices in the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC raised its holdings in shares of Analog Devices by 63.2% in the fourth 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 in the fourth quarter worth $33,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Analog Devices in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley set a $214.00 target price on shares of Analog Devices in a report on Monday, April 21st. Oppenheimer raised their target price on shares of Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company raised their target price on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Finally, Citigroup reduced their target price on shares of Analog Devices from $265.00 to $235.00 and set a “buy” rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.95.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The shares were 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 owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares in the company, valued at approximately $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock worth $8,735,156 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Down 0.0%

ADI stock opened at $227.11 on Friday. The firm has a market cap of $112.64 billion, a PE ratio of 72.33, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm’s fifty day moving average is $196.58 and its 200 day moving average is $210.41. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly 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 analyst estimates 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 was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.73 earnings per share. On average, research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.74%. Analog Devices’s dividend payout ratio (DPR) is 126.11%.

Analog Devices declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.