Nicholson Wealth Management Group LLC Has $1.56 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Nicholson Wealth Management Group LLC grew its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 95.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,362 shares of the semiconductor company’s stock after purchasing an additional 3,596 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Analog Devices were worth $1,564,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Bank of Hawaii increased its stake in shares of Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the last quarter. MONECO Advisors LLC increased its stake in shares of Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 50 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of Analog Devices by 0.7% during the 3rd quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after purchasing an additional 51 shares during the last quarter. Amarillo National Bank increased its stake in shares of Analog Devices by 3.6% during the 3rd quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after purchasing an additional 54 shares during the last quarter. Finally, NTV Asset Management LLC increased its stake in shares of Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 54 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $243.82 on Friday. The company has a market cap of $120.96 billion, a PE ratio of 74.11, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $215.06 and a 200-day moving average of $219.97. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10.

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, beating the consensus estimate of $1.54 by $0.09. The firm 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 17.35% and a return on equity of 9.01%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized a stock buyback program on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.62%. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADI shares. Barclays lowered their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Truist Financial upped their price target on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group upped their price target on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Morgan Stanley upped their price target on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.19.

Analog Devices 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.