Heritage Wealth Advisors Sells 284 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Heritage Wealth Advisors decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 40.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 418 shares of the semiconductor company’s stock after selling 284 shares during the quarter. Heritage Wealth Advisors’ holdings in Analog Devices were worth $89,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. United Bank grew its stake in shares of Analog Devices by 4.7% in the 3rd quarter. United Bank now owns 6,056 shares of the semiconductor company’s stock worth $1,394,000 after acquiring an additional 273 shares in the last quarter. Quest Partners LLC bought a new stake in Analog Devices in the 3rd quarter worth about $210,000. Great Valley Advisor Group Inc. increased its stake in Analog Devices by 39.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,018 shares of the semiconductor company’s stock valued at $465,000 after buying an additional 570 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Analog Devices by 103.6% during the 3rd quarter. Larson Financial Group LLC now owns 448 shares of the semiconductor company’s stock worth $103,000 after buying an additional 228 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Analog Devices by 20.2% in the 3rd quarter. Fisher Asset Management LLC now owns 2,831 shares of the semiconductor company’s stock worth $652,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $210.53 on Thursday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. 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 firm has a market capitalization of $104.42 billion, a PE ratio of 67.05, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The firm’s 50 day simple moving average is $216.98 and its 200 day simple moving average is $219.72.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the business posted $1.73 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, analysts expect 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 initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.88%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. Analog Devices’s dividend payout ratio is 126.11%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,684 shares of company stock valued at $7,746,500 over the last three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted 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, February 20th. Benchmark increased their price target on shares of Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Maxim Group began coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.