Whipplewood Advisors LLC Buys New Stake in Analog Devices, Inc. (NASDAQ:ADI)

Whipplewood Advisors LLC bought a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 306 shares of the semiconductor company’s stock, valued at approximately $65,000.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB grew its position in Analog Devices by 6.7% during the 3rd quarter. Swedbank AB now owns 2,894,109 shares of the semiconductor company’s stock worth $666,137,000 after purchasing an additional 180,870 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in Analog Devices during the 3rd quarter worth $245,000. Reston Wealth Management LLC purchased a new position in Analog Devices during the 3rd quarter worth $48,000. Lebenthal Global Advisors LLC grew its position in Analog Devices by 4.9% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 4,406 shares of the semiconductor company’s stock worth $1,014,000 after purchasing an additional 206 shares during the last quarter. Finally, F M Investments LLC purchased a new position in Analog Devices during the 3rd quarter worth $2,001,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of ADI opened at $229.82 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 stock has a market cap of $113.99 billion, a P/E ratio of 73.19, a PEG ratio of 2.85 and a beta of 1.04. The company has a 50-day moving average of $217.55 and a two-hundred day moving average of $221.05. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share. As a group, research 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 dividend of $0.99 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 126.11%.

Analog Devices declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Morgan Stanley lifted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.41.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

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.