Pacific Capital Wealth Advisors Inc. Purchases Shares of 242 Analog Devices, Inc. (NASDAQ:ADI)

Pacific Capital Wealth Advisors Inc. purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 242 shares of the semiconductor company’s stock, valued at approximately $48,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after purchasing an additional 2,497,696 shares during the period. Nordea Investment Management AB raised its position in shares of Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after purchasing an additional 1,486,180 shares during the period. International Assets Investment Management LLC raised its position in shares of Analog Devices by 20,527.8% during the fourth quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after purchasing an additional 930,732 shares during the period. Alecta Tjanstepension Omsesidigt raised its position in shares of Analog Devices by 193.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after purchasing an additional 775,000 shares during the period. Finally, Invesco Ltd. raised its position in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after purchasing an additional 701,367 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ADI shares. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a report on Thursday, January 18th. Truist Financial reduced their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. The Goldman Sachs Group upped their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Morgan Stanley restated an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Barclays upped their price objective on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $208.17.

Insider Activity

In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,707 shares of company stock valued at $4,874,613. Company insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

NASDAQ:ADI traded up $0.25 during mid-day trading on Tuesday, reaching $203.57. The stock had a trading volume of 3,276,572 shares, compared to its average volume of 3,340,682. The firm has a 50 day moving average price of $194.85 and a two-hundred day moving average price of $188.89. The stock has a market capitalization of $100.95 billion, a P/E ratio of 36.42, a P/E/G ratio of 5.01 and a beta of 1.14. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $205.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

Analog Devices (NASDAQ:ADI) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.75 EPS. As a group, analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. Analog Devices’s payout ratio is 65.83%.

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.