Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,758 shares of the semiconductor company’s stock after selling 374 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Analog Devices were worth $4,623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter worth about $28,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Archer Investment Corp increased its position in shares of Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Analog Devices during the fourth quarter worth about $33,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices during the third quarter worth about $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

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 dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of a number of analyst reports. 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 report on Thursday, February 20th. Morgan Stanley lifted their target price on Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Barclays dropped their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Benchmark lifted their target price on Analog Devices from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Truist Financial boosted their price objective on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.41.

Analog Devices Stock Performance

Shares of ADI stock opened at $225.86 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $218.48 and a two-hundred day moving average of $221.23. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a market cap of $112.02 billion, a P/E ratio of 71.93, a PEG ratio of 2.85 and a beta of 1.07.

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 the consensus estimate 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 return on equity of 8.91% and a net margin of 16.75%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 earnings per share. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices announced that its board has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 1.75%. The ex-dividend date is Tuesday, March 4th. Analog Devices’s payout ratio is 126.11%.

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.