Transamerica Financial Advisors Inc. Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Transamerica Financial Advisors Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,377 shares of the semiconductor company’s stock after selling 475 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Analog Devices were worth $1,143,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADI shares. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Maxim Group initiated coverage on Analog Devices in a research report on Friday, February 14th. They issued a “buy” rating on the stock. Lake Street Capital started coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Benchmark boosted their target price on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,684 shares of company stock worth $7,746,500. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

Shares of ADI opened at $201.56 on Friday. 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 $99.97 billion, a PE ratio of 64.19, a P/E/G ratio of 2.85 and a beta of 1.07. 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 moving average price of $216.51 and a 200-day moving average price of $219.53.

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 analysts’ consensus estimates 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 analysts’ expectations of $2.36 billion. During the same period last year, the business posted $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities research 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 announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

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

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.