Atlanta Consulting Group Advisors LLC Has $333,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Atlanta Consulting Group Advisors LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 29.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,569 shares of the semiconductor company’s stock after selling 640 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Analog Devices were worth $333,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in shares of Analog Devices during the fourth quarter worth about $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices during the fourth quarter worth about $30,000. Financial Life Planners bought a new position in shares of Analog Devices during the fourth quarter worth about $33,000. Kestra Investment Management LLC bought a new position in shares of Analog Devices during the fourth quarter worth about $41,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Analog Devices during the third quarter worth about $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of analyst reports. Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Oppenheimer restated an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. UBS Group upped their price target on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley upped their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Benchmark upped their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Trading Up 2.4 %

ADI stock opened at $208.75 on Monday. 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 company’s 50-day simple moving average is $218.09 and its 200 day simple moving average is $220.53. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a market capitalization of $103.53 billion, a PE ratio of 66.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company posted $1.73 earnings per share. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.90%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices declared that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

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.