Waverly Advisors LLC Purchases 2,761 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Waverly Advisors LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 91.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,771 shares of the semiconductor company's stock after purchasing an additional 2,761 shares during the period. Waverly Advisors LLC's holdings in Analog Devices were worth $1,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADI. Broderick Brian C lifted its stake in shares of Analog Devices by 2.6% during the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after purchasing an additional 2,017 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of Analog Devices during the fourth quarter worth about $10,212,000. Curbstone Financial Management Corp acquired a new position in shares of Analog Devices during the fourth quarter worth about $460,000. Synergy Asset Management LLC lifted its stake in shares of Analog Devices by 11.1% during the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company's stock worth $5,404,000 after purchasing an additional 2,554 shares in the last quarter. Finally, RFG Advisory LLC lifted its stake in shares of Analog Devices by 3.9% during the fourth quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company's stock worth $440,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Stock Up 3.1%

NASDAQ:ADI traded up $6.42 during trading hours on Tuesday, hitting $216.89. 5,542,186 shares of the stock traded hands, compared to its average volume of 3,525,333. The firm has a 50 day moving average price of $197.67 and a 200 day moving average price of $210.03. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm has a market cap of $107.57 billion, a price-to-earnings ratio of 69.07, a PEG ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.40 earnings per share. Analog Devices's revenue for the quarter was up 22.3% compared to the same quarter last year. Equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total value of $612,000.00. Following the completion of the sale, the director now directly owns 180,071 shares in the company, valued at approximately $35,265,104.64. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company's stock, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of analyst reports. Seaport Res Ptn raised Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Oppenheimer boosted their price objective on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Truist Financial boosted their price objective on Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Wells Fargo & Company reaffirmed a "positive" rating on shares of Analog Devices in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $248.63.

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.