Legacy Financial Advisors Inc. Purchases 241 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Legacy Financial Advisors Inc. lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,337 shares of the semiconductor company’s stock after buying an additional 241 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Analog Devices were worth $663,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in Analog Devices by 22.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB grew its holdings in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after purchasing an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after purchasing an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,874,613 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

ADI traded up $3.14 on Friday, reaching $199.63. The stock had a trading volume of 2,372,862 shares, compared to its average volume of 3,339,473. The business’s 50-day moving average price is $194.27 and its two-hundred day moving average price is $188.15. The company has a market cap of $99.00 billion, a P/E ratio of 35.71, a price-to-earnings-growth ratio of 4.93 and a beta of 1.14. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $204.20. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $2.75 EPS. Analog Devices’s revenue for the quarter was down 22.7% compared to the same quarter last year. Sell-side analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.84%. Analog Devices’s dividend payout ratio is currently 65.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Truist Financial lowered their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. KeyCorp boosted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Finally, Barclays upped their target price on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $208.17.

About Analog Devices

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.