Trillium Asset Management LLC Sells 54 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Trillium Asset Management LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,366 shares of the semiconductor company’s stock after selling 54 shares during the period. Trillium Asset Management LLC’s holdings in Analog Devices were worth $3,902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xponance Inc. grew its holdings in Analog Devices by 1.2% during the 4th quarter. Xponance Inc. now owns 74,698 shares of the semiconductor company’s stock worth $15,870,000 after acquiring an additional 875 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $2,368,000. Horizon Investments LLC increased its holdings in shares of Analog Devices by 52.3% in the fourth quarter. Horizon Investments LLC now owns 23,662 shares of the semiconductor company’s stock valued at $5,027,000 after purchasing an additional 8,123 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Analog Devices by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 25,883 shares of the semiconductor company’s stock worth $5,531,000 after purchasing an additional 547 shares during the last quarter. Finally, Leelyn Smith LLC lifted its holdings in Analog Devices by 0.7% during the 4th quarter. Leelyn Smith LLC now owns 21,753 shares of the semiconductor company’s stock worth $4,622,000 after buying an additional 149 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Performance

Shares of ADI opened at $209.97 on Thursday. The firm has a market cap of $104.14 billion, a P/E ratio of 66.87, a PEG ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $247.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. The firm’s 50 day moving average price is $217.62 and its two-hundred day moving average price is $220.15.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 EPS. On average, analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its board has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in 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 usually an indication that the company’s management believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.89%. Analog Devices’s dividend payout ratio (DPR) is presently 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 that occurred 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 directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADI. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Barclays dropped their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Truist Financial raised their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Maxim Group started coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a “buy” rating for the company. Finally, UBS Group raised their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.