Analog Devices, Inc. (NASDAQ:ADI) Shares Purchased by First Business Financial Services Inc.

First Business Financial Services Inc. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.2% in the fourth quarter, HoldingsChannel reports. The firm owned 13,224 shares of the semiconductor company’s stock after buying an additional 407 shares during the quarter. First Business Financial Services Inc.’s holdings in Analog Devices were worth $2,810,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. Mainstream Capital Management LLC acquired a new position in Analog Devices during the 4th quarter worth approximately $30,000. Archer Investment Corp grew its holdings in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Financial Life Planners acquired a new position in Analog Devices during the 4th quarter worth approximately $33,000. Finally, Kestra Investment Management LLC acquired a new position in Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. 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. Maxim Group initiated coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, February 20th. Truist Financial boosted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up previously from $245.00) on shares of Analog Devices in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Performance

NASDAQ ADI opened at $229.47 on Thursday. 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, Inc. has a 52-week low of $182.57 and a 52-week high of $247.10. The business’s 50-day moving average price is $218.21 and its 200 day moving average price is $221.22. The firm has a market cap of $113.81 billion, a P/E ratio of 73.08, a P/E/G ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results 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 firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company posted $1.73 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has authorized 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 reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 yield of 1.73%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is currently 126.11%.

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.