Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by Howard Capital Management Inc.

Howard Capital Management Inc. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 14,384 shares of the semiconductor company’s stock after buying an additional 426 shares during the quarter. Howard Capital Management Inc.’s holdings in Analog Devices were worth $3,056,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp grew its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $33,000. Kestra Investment Management LLC acquired a new position in shares of Analog Devices in the fourth quarter valued at approximately $41,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Analog Devices in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ADI. Lake Street Capital began coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on shares of Analog Devices from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday. Finally, Williams Trading set a $245.00 target price on shares of Analog Devices in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and an average target price of $255.41.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 2.0 %

Shares of Analog Devices stock opened at $238.91 on Friday. The firm has a fifty day moving average of $215.50 and a two-hundred day moving average of $220.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. The company has a market cap of $118.49 billion, a P/E ratio of 76.09, a PEG ratio of 2.60 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.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 EPS. On average, analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is currently 117.20%.

Analog Devices announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.