Mainstream Capital Management LLC Purchases New Position in Analog Devices, Inc. (NASDAQ:ADI)

Mainstream Capital Management LLC acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 142 shares of the semiconductor company’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Analog Devices during the third quarter worth approximately $28,000. Archer Investment Corp grew 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 acquired a new position in shares of Analog Devices in the 4th quarter valued at $33,000. Peterson Financial Group Inc. purchased a new stake in Analog Devices in the 3rd quarter valued at $43,000. Finally, Kestra Investment Management LLC acquired a new stake in Analog Devices during the 4th quarter worth $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 1.0 %

Shares of ADI stock opened at $226.18 on Wednesday. The stock has a market cap of $112.18 billion, a P/E ratio of 72.03, a P/E/G ratio of 2.85 and a beta of 1.04. 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 fifty-two week low of $182.57 and a fifty-two week high of $247.10. The business has a fifty day simple moving average of $217.98 and a 200-day simple moving average of $221.16.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share 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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm posted $1.73 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

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 paid a $0.99 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is presently 126.11%.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Truist Financial boosted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Thursday, February 20th. Benchmark boosted their target price on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’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 sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by insiders.

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.