TD Private Client Wealth LLC Has $4.20 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

TD Private Client Wealth LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,765 shares of the semiconductor company’s stock after selling 580 shares during the period. TD Private Client Wealth LLC’s holdings in Analog Devices were worth $4,199,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ADI. Mainstream Capital Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $30,000. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the fourth quarter worth about $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners bought a new position in shares of Analog Devices in the fourth quarter worth about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices in the fourth quarter worth about $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI stock opened at $204.40 on Friday. The company has a market cap of $101.38 billion, a price-to-earnings ratio of 65.10, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $217.17 and a 200-day moving average of $219.84.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.54 by $0.09. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.94%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

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

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research reports. Williams Trading set a $245.00 price objective on shares of Analog Devices in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. TD Cowen dropped their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company raised their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.41.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 sale, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,000 shares of company stock valued at $5,082,860. 0.33% of the stock is owned by company 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.