Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Cut by Sentry Investment Management LLC

Sentry Investment Management LLC lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 14.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,065 shares of the semiconductor company’s stock after selling 336 shares during the period. Sentry Investment Management LLC’s holdings in Analog Devices were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADI. Capital Performance Advisors LLP bought a new stake in Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp lifted its position in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Financial Life Planners bought a new stake in shares of Analog Devices during the 4th quarter worth $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices in the 3rd quarter worth $43,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter worth $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Morgan Stanley increased their price target on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Benchmark boosted their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company boosted their target price on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Analog Devices Price Performance

NASDAQ ADI opened at $236.99 on Tuesday. The company has a 50 day moving average price of $215.92 and a two-hundred day moving average price of $220.64. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The stock has a market capitalization of $117.54 billion, a PE ratio of 75.47, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released 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 business had revenue of $2.42 billion during 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 quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. As a group, 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 will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.67%. Analog Devices’s dividend payout ratio is currently 117.20%.

Analog Devices announced that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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.