NBW Capital LLC Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

NBW Capital LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,155 shares of the semiconductor company’s stock after selling 764 shares during the period. Analog Devices makes up about 1.8% of NBW Capital LLC’s holdings, making the stock its 16th biggest holding. NBW Capital LLC’s holdings in Analog Devices were worth $9,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Analog Devices in the 3rd quarter valued at about $28,000. Archer Investment Corp grew its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners bought a new stake in Analog Devices in the fourth quarter valued at about $33,000. Kestra Investment Management LLC acquired a new stake in Analog Devices during the fourth quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. bought a new position in Analog Devices during the 3rd quarter worth approximately $43,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

ADI stock opened at $228.53 on Tuesday. The company has a market capitalization of $113.35 billion, a P/E ratio of 72.78, a PEG ratio of 2.85 and a beta of 1.04. The company has a 50-day simple moving average of $217.82 and a 200 day simple moving average of $221.14. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two 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.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 earnings per share. Sell-side analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, March 4th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 1.73%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Oppenheimer reaffirmed 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating for the company. Finally, UBS Group lifted their price objective 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. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has an average 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.