GPS Wealth Strategies Group LLC Decreases Position in Analog Devices, Inc. (NASDAQ:ADI)

GPS Wealth Strategies Group LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 50.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 473 shares of the semiconductor company’s stock after selling 473 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Analog Devices were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Analog Devices during the 4th quarter valued at $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices in the fourth quarter valued at $27,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices in the fourth quarter valued at $30,000. Mainstream Capital Management LLC purchased a new stake in Analog Devices during the 4th quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in shares of Analog Devices by 63.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares in the last quarter. Hedge funds and other 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 firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the transaction, the chief executive officer now owns 142,996 shares of the company’s stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,934 shares of company stock valued at $6,643,956 over the last three months. 0.33% of the stock is owned by corporate insiders.

Analog Devices Stock Performance

Shares of ADI opened at $225.03 on Friday. The firm has a 50-day moving average price of $204.95 and a 200 day moving average price of $210.79. The firm has a market capitalization of $111.67 billion, a PE ratio of 71.67, a P/E/G ratio of 2.85 and a beta of 1.00. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating 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 company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Announces Dividend

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 given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analysts Set New Price Targets

Several analysts have commented on ADI shares. Truist Financial lifted their price target on Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Wells Fargo & Company reissued a “positive” rating on shares of Analog Devices in a research report on Friday, May 23rd. Oppenheimer boosted their target price on shares of Analog Devices from $225.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. TD Cowen upped their target price on shares of Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Seaport Res Ptn raised shares of Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.63.

Analog Devices 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.