Twin City Private Wealth LLC Boosts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Twin City Private Wealth LLC grew its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,912 shares of the semiconductor company’s stock after purchasing an additional 107 shares during the quarter. Twin City Private Wealth LLC’s holdings in Analog Devices were worth $831,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADI. Mainstream Capital Management LLC purchased a new stake in Analog Devices in the 4th quarter worth $30,000. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter worth $30,000. Cassady Schiller Wealth Management LLC increased its holdings in 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 acquiring an additional 55 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the 4th quarter worth $33,000. Finally, Kestra Investment Management LLC purchased a new stake in Analog Devices in the 4th quarter worth $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Down 0.7 %

Shares of ADI opened at $204.40 on Monday. The firm has a market cap of $101.38 billion, a P/E ratio of 65.10, a price-to-earnings-growth 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 company’s 50-day moving average price is $217.17 and its 200 day moving average price is $219.83. 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 issued its quarterly earnings data 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. The firm 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%. Analog Devices’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has initiated a share buyback 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.99 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

Insider Activity at Analog Devices

In other Analog Devices news, 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 transaction of $836,760.00. Following the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,000 shares of company stock worth $5,082,860. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Cowen cut their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Morgan Stanley lifted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.