Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,110 shares of the semiconductor company’s stock after buying an additional 2,626 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Analog Devices were worth $4,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ADI. Advyzon Investment Management LLC acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $245,000. Handelsbanken Fonder AB boosted its position in Analog Devices by 10.4% in the 4th quarter. Handelsbanken Fonder AB now owns 239,489 shares of the semiconductor company’s stock valued at $50,882,000 after buying an additional 22,554 shares during the period. Wealth Alliance grew its stake in shares of Analog Devices by 71.1% in the fourth quarter. Wealth Alliance now owns 2,549 shares of the semiconductor company’s stock worth $542,000 after acquiring an additional 1,059 shares in the last quarter. Private Wealth Partners LLC increased its position in shares of Analog Devices by 0.6% during the fourth quarter. Private Wealth Partners LLC now owns 27,475 shares of the semiconductor company’s stock worth $5,837,000 after acquiring an additional 165 shares during the period. Finally, Bryn Mawr Capital Management LLC raised its stake in shares of Analog Devices by 268.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 140,405 shares of the semiconductor company’s stock valued at $29,830,000 after acquiring an additional 102,307 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 0.9 %

ADI opened at $243.82 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The business’s 50 day moving average is $215.06 and its two-hundred day moving average is $219.97. The firm has a market cap of $120.96 billion, a price-to-earnings ratio of 74.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, research analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current year.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost 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 111.85%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ADI shares. JPMorgan Chase & Co. boosted their target price on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial boosted their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday. UBS Group raised their target price on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Piper Sandler reduced their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.19.

Analog Devices 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.