HighTower Advisors LLC Has $68.05 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

HighTower Advisors LLC lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 320,314 shares of the semiconductor company’s stock after selling 2,943 shares during the period. HighTower Advisors LLC’s holdings in Analog Devices were worth $68,054,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Natural Investments LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at $316,000. AGF Management Ltd. boosted its stake in shares of Analog Devices by 15.9% in the 4th quarter. AGF Management Ltd. now owns 499,683 shares of the semiconductor company’s stock valued at $106,163,000 after purchasing an additional 68,727 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Analog Devices in the 4th quarter valued at $1,384,000. Cornerstone Advisors LLC boosted its stake in shares of Analog Devices by 75.0% in the 4th quarter. Cornerstone Advisors LLC now owns 23,800 shares of the semiconductor company’s stock valued at $5,057,000 after purchasing an additional 10,200 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Analog Devices by 34.1% in the 4th quarter. Citizens Financial Group Inc. RI now owns 3,498 shares of the semiconductor company’s stock valued at $743,000 after purchasing an additional 889 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices 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 completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $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 available through this link. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $206.62 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The stock has a 50 day simple moving average of $218.37 and a 200 day simple moving average of $220.89. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The firm has a market capitalization of $102.48 billion, a PE ratio of 65.80, a P/E/G ratio of 2.85 and a beta of 1.07.

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. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm earned $1.73 EPS. Analog Devices’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

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

Analog Devices Increases Dividend

The company also recently declared 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 of this dividend is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.92%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADI. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a research report on Thursday, February 20th. Truist Financial upped their price target 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. Benchmark boosted their price objective on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Lake Street Capital initiated coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

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.