Good Life Advisors LLC Sells 726 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Good Life Advisors LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 26.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,049 shares of the semiconductor company’s stock after selling 726 shares during the quarter. Good Life Advisors LLC’s holdings in Analog Devices were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ADI. State Street Corp increased its position in shares of Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after acquiring an additional 106,664 shares during the last quarter. Geode Capital Management LLC grew its stake in Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares during the period. Franklin Resources Inc. increased its position in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. FMR LLC raised its stake in shares of Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Analog Devices by 4.8% in the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock worth $1,058,364,000 after buying an additional 226,716 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ADI shares. Barclays decreased their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Truist Financial raised their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley raised their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Benchmark upped their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $255.19.

Analog Devices Stock Up 0.9 %

Shares of NASDAQ:ADI opened at $243.82 on Friday. The company has a market cap of $120.96 billion, a price-to-earnings ratio of 74.11, a PEG ratio of 2.53 and a beta of 1.04. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $247.10. The firm has a fifty day moving average price of $215.06 and a two-hundred day moving average price of $219.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

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

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.