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

Waverly Advisors LLC lifted its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 91.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and 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 filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Midwest Professional Planners LTD. lifted its holdings in Analog Devices by 0.6% during the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock worth $1,975,000 after buying an additional 53 shares during the period. Portland Global Advisors LLC increased its holdings in Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after purchasing an additional 53 shares in the last quarter. NTV Asset Management LLC increased its holdings in Analog Devices by 2.7% during the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 54 shares in the last quarter. Cassady Schiller Wealth Management LLC increased its holdings in 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 purchasing an additional 55 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company's stock worth $1,114,000 after buying an additional 65 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Cowen reiterated a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. Piper Sandler reduced their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Williams Trading set a $260.00 target price on shares of Analog Devices in a report on Friday, May 23rd. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $248.63.

Analog Devices Trading Down 0.5%

ADI stock traded down $1.00 during midday trading on Thursday, reaching $214.63. 894,129 shares of the company's stock traded hands, compared to its average volume of 3,519,907. The company has a market capitalization of $106.45 billion, a P/E ratio of 68.27, a PEG ratio of 2.85 and a beta of 0.98. The business has a 50-day moving average price of $198.11 and a two-hundred day moving average price of $210.11. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43.

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

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Analog Devices announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now directly owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 completion of the sale, the chief executive officer now owns 64,918 shares of the company's stock, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,934 shares of company stock worth $8,735,156 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

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.