Pacific Capital Wealth Advisors Inc. Makes New $48,000 Investment in Analog Devices, Inc. (NASDAQ:ADI)

Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Analog Devices, Inc. (NASDAQ:ADI) during the 4th quarter, Holdings Channel.com reports. The firm acquired 242 shares of the semiconductor company’s stock, valued at approximately $48,000.

Several other institutional investors also recently bought and sold shares of ADI. Massachusetts Financial Services Co. MA raised its position in shares of Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after acquiring an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB grew its stake in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after purchasing an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Analog Devices by 20,527.8% in 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 in the last quarter. Alecta Tjanstepension Omsesidigt lifted 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 valued at $233,308,000 after buying an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after buying an additional 701,367 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated 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 transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Analog Devices 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 completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock worth $4,874,613 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $0.25 during trading on Tuesday, reaching $203.57. 3,276,572 shares of the company traded hands, compared to its average volume of 3,340,682. The firm’s fifty day simple moving average is $194.85 and its 200 day simple moving average is $188.89. The stock has a market cap of $100.95 billion, a P/E ratio of 36.42, a PEG ratio of 5.01 and a beta of 1.14. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $205.77. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

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

Analog Devices Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADI shares. Truist Financial reduced their price objective on shares of 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 target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Barclays boosted their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.17.

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.