Probity Advisors Inc. Has $505,000 Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Probity Advisors Inc. trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,378 shares of the semiconductor company’s stock after selling 78 shares during the quarter. Probity Advisors Inc.’s holdings in Analog Devices were worth $505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mutual Advisors LLC increased its holdings in Analog Devices by 8.6% in the fourth quarter. Mutual Advisors LLC now owns 2,060 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 164 shares during the period. Brighton Jones LLC raised its position in shares of Analog Devices by 39.5% during the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 529 shares during the last quarter. RFG Advisory LLC lifted its stake in shares of Analog Devices by 3.9% in the fourth quarter. RFG Advisory LLC now owns 2,072 shares of the semiconductor company’s stock worth $440,000 after acquiring an additional 77 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Analog Devices by 9.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,525 shares of the semiconductor company’s stock valued at $749,000 after acquiring an additional 306 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its position in Analog Devices by 16.0% during the 4th quarter. Archford Capital Strategies LLC now owns 1,495 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 206 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ADI. Morgan Stanley reduced their price objective on shares of Analog Devices from $214.00 to $212.00 and set an “overweight” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Friday. Barclays raised their target price on Analog Devices from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday. Williams Trading set a $260.00 price target on Analog Devices in a report on Friday. Finally, KGI Securities assumed coverage on shares of Analog Devices in a research report on Friday. They set a “buy” rating for the company. One equities 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 company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $248.63.

Analog Devices Stock Down 0.7%

Shares of NASDAQ:ADI opened at $210.47 on Tuesday. The stock has a market cap of $104.39 billion, a price-to-earnings ratio of 67.03, a PEG ratio of 2.85 and a beta of 0.98. The business’s 50 day moving average is $197.67 and its 200 day moving average is $210.03. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. 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 (NASDAQ:ADI) last posted its quarterly earnings data 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 firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.88%. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analog Devices announced that its board has initiated a share buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Vivek Jain sold 12,684 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at approximately $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $8,735,156 in the last 90 days. 0.33% of the stock is currently owned by corporate 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.