McCollum Christoferson Group LLC Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

McCollum Christoferson Group LLC decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,069 shares of the semiconductor company’s stock after selling 135 shares during the quarter. Analog Devices comprises 2.5% of McCollum Christoferson Group LLC’s portfolio, making the stock its 18th biggest holding. McCollum Christoferson Group LLC’s holdings in Analog Devices were worth $8,301,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Hopwood Financial Services Inc. purchased a new stake in Analog Devices in the 4th quarter worth about $30,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices in the fourth quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC lifted its stake in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 55 shares during the last quarter. Financial Life Planners purchased a new position in Analog Devices during the 4th quarter valued at $33,000. Finally, Kestra Investment Management LLC bought a new position in Analog Devices in the 4th quarter valued at $41,000. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADI. Morgan Stanley boosted their target price on shares of Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Truist Financial upped their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock 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. UBS Group boosted their price target on Analog Devices from $275.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report 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’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In other news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the transaction, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $10,441,928.04. This represents a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total value of $2,091,200.00. Following the sale, the chief executive officer now directly owns 64,918 shares of the company’s stock, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,000 shares of company stock valued at $5,082,860. Insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 0.7 %

Analog Devices stock opened at $204.40 on Monday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The business has a fifty day moving average price of $217.17 and a 200-day moving average price of $219.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The stock has a market capitalization of $101.38 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 2.85 and a beta of 1.07.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter last year, the company earned $1.73 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.99 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.94%. Analog Devices’s dividend payout ratio is presently 126.11%.

Analog Devices announced that its Board of Directors has authorized a stock repurchase program 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 programs are often a sign that the company’s board believes its shares are undervalued.

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.