Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Lifted by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,337 shares of the semiconductor company’s stock after buying an additional 463 shares during the period. First Horizon Advisors Inc.’s holdings in Analog Devices were worth $1,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the third quarter valued at approximately $28,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners bought a new position in Analog Devices during the 4th quarter worth $33,000. Kestra Investment Management LLC acquired a new stake in Analog Devices in the fourth quarter worth $41,000. Finally, Peterson Financial Group Inc. bought a new stake in Analog Devices in the third quarter valued at $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ADI shares. Morgan Stanley upped their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. UBS Group boosted their price objective on Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their target price on Analog Devices from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 2.0 %

Shares of NASDAQ:ADI opened at $238.91 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.93. The stock has a market capitalization of $118.49 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 2.60 and a beta of 1.04. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The company has a 50 day moving average price of $215.50 and a 200 day moving average price of $220.48.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. On average, research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s payout ratio is presently 117.20%.

Analog Devices declared that its board has authorized a stock buyback plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.