Key Financial Inc Sells 256 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Financial Inc reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 49.0% during the 4th quarter, HoldingsChannel reports. The firm owned 266 shares of the semiconductor company’s stock after selling 256 shares during the quarter. Key Financial Inc’s holdings in Analog Devices were worth $57,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ADI. Swedbank AB grew its stake in shares of Analog Devices by 6.7% in the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock valued at $666,137,000 after purchasing an additional 180,870 shares during the period. Vest Financial LLC grew its stake in shares of Analog Devices by 53.0% in the 3rd quarter. Vest Financial LLC now owns 4,725 shares of the semiconductor company’s stock valued at $1,088,000 after purchasing an additional 1,636 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $80,000. Whittier Trust Co. grew its stake in shares of Analog Devices by 17.0% in the 3rd quarter. Whittier Trust Co. now owns 2,693 shares of the semiconductor company’s stock valued at $620,000 after purchasing an additional 391 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Analog Devices by 3.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,828 shares of the semiconductor company’s stock valued at $651,000 after purchasing an additional 92 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Truist Financial boosted their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $248.52.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Up 2.6 %

NASDAQ:ADI opened at $220.22 on Wednesday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $109.25 billion, a P/E ratio of 66.94, a P/E/G ratio of 2.38 and a beta of 1.04. The stock’s fifty day simple moving average is $214.04 and its 200-day simple moving average is $219.65.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $2.01 EPS. The firm’s revenue was down 10.1% on a year-over-year basis. Equities research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be given 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 dividend yield of 1.80%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analog Devices announced that its Board of Directors has approved a stock 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 buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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.