Commonwealth Retirement Investments LLC Has $961,000 Stake in Analog Devices, Inc. (NASDAQ:ADI)

Commonwealth Retirement Investments LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,522 shares of the semiconductor company’s stock after selling 300 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Analog Devices were worth $961,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $28,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices in the 4th quarter valued at $33,000. Kestra Investment Management LLC bought a new position in Analog Devices during the fourth quarter worth about $41,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the third quarter worth about $43,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $236.99 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $117.54 billion, a P/E ratio of 75.47, a P/E/G ratio of 2.85 and a beta of 1.04. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The stock has a 50 day moving average of $215.92 and a 200-day moving average of $220.64.

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

Analog Devices announced that its board has initiated a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 117.20%.

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 that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ADI. UBS Group raised their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their target price on Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Truist Financial boosted their price objective 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. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

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.