NewEdge Wealth LLC Has $1.91 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

NewEdge Wealth LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 12.0% in the fourth quarter, HoldingsChannel reports. The fund owned 8,974 shares of the semiconductor company’s stock after selling 1,223 shares during the period. NewEdge Wealth LLC’s holdings in Analog Devices were worth $1,907,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the third quarter valued at about $28,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% during 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 during the last quarter. Financial Life Planners bought a new position in Analog Devices in the fourth quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the 3rd quarter worth approximately $43,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Analog Devices during the 4th quarter worth approximately $41,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Up 2.7 %

Shares of ADI opened at $229.82 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10. The firm’s 50 day moving average is $217.55 and its 200-day moving average is $221.07. The stock has a market capitalization of $113.99 billion, a PE ratio of 73.19, a P/E/G ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted 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 for the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently announced 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 is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.72%. Analog Devices’s dividend payout ratio is presently 126.11%.

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 on 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 of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ADI shares. Oppenheimer restated an “outperform” rating and set a $270.00 target price (up from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Morgan Stanley lifted their price target on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Maxim Group began coverage on Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating on the stock. Six research 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, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $255.41.

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.