Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Harfst & Associates Inc.

Harfst & Associates Inc. boosted its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,337 shares of the semiconductor company’s stock after purchasing an additional 121 shares during the quarter. Harfst & Associates Inc.’s holdings in Analog Devices were worth $2,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Analog Devices in the 3rd quarter valued at about $28,000. Archer Investment Corp raised its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices during the 4th quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the 3rd quarter valued at about $43,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 0.7 %

NASDAQ ADI opened at $233.73 on Thursday. The stock has a market cap of $115.92 billion, a PE ratio of 74.44, a P/E/G ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $247.10. The business has a 50 day moving average price of $216.87 and a two-hundred day moving average price of $220.90. 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 results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business earned $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices announced that its board has initiated a stock buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Morgan Stanley upped their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Finally, Truist Financial upped their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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.