Moors & Cabot Inc. Sells 49 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Moors & Cabot Inc. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,452 shares of the semiconductor company’s stock after selling 49 shares during the period. Moors & Cabot Inc.’s holdings in Analog Devices were worth $733,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $833,386,000. Proficio Capital Partners LLC increased its position in Analog Devices by 22,005.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,073,252 shares of the semiconductor company’s stock worth $652,943,000 after buying an additional 3,059,349 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after acquiring an additional 823,709 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $208.75 on Friday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The stock has a 50-day simple moving average of $218.09 and a 200 day simple moving average of $220.66. 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 stock has a market capitalization of $103.53 billion, a price-to-earnings ratio of 66.48, 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 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Analog Devices’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.90%. 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 dividend payout ratio is 126.11%.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the transaction, the chief executive officer now owns 64,918 shares of the company’s stock, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on ADI. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Piper Sandler cut their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Morgan Stanley boosted their price objective on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Williams Trading set a $245.00 price target on shares of Analog Devices in a research note on Friday, February 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.41.

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.