WealthShield Partners LLC Sells 2,744 Shares of Analog Devices, Inc. (NASDAQ:ADI)

WealthShield Partners LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 25.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,104 shares of the semiconductor company’s stock after selling 2,744 shares during the quarter. WealthShield Partners LLC’s holdings in Analog Devices were worth $1,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares in the last quarter. Geode Capital Management LLC increased its stake in Analog Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares in the last quarter. Franklin Resources Inc. increased its stake in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. FMR LLC grew its stake in shares of Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after acquiring an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Analog Devices by 4.8% in the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock worth $1,058,364,000 after acquiring an additional 226,716 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’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 value of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $238.91 on Monday. The company has a market cap of $118.49 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $247.10. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $215.50 and its two-hundred day simple moving average is $220.48.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices declared that its Board of Directors has approved a share repurchase 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 purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Analog Devices from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday. 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. Maxim Group assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday. Finally, Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.41.

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.