Sagespring Wealth Partners LLC Acquires 1,356 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Sagespring Wealth Partners LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,506 shares of the semiconductor company’s stock after acquiring an additional 1,356 shares during the period. Sagespring Wealth Partners LLC’s holdings in Analog Devices were worth $2,320,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock worth $10,432,961,000 after purchasing an additional 413,084 shares during the period. Geode Capital Management LLC raised its stake in Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock worth $2,248,971,000 after buying an additional 247,737 shares during the last quarter. Norges Bank acquired a new position in Analog Devices in the fourth quarter valued at $1,755,958,000. FMR LLC grew its holdings in Analog Devices by 0.8% during the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock worth $1,582,831,000 after acquiring an additional 61,390 shares during the period. Finally, Northern Trust Corp grew its holdings in Analog Devices by 8.4% during the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company’s stock worth $1,173,026,000 after acquiring an additional 427,328 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 3.0%

Shares of Analog Devices stock opened at $231.80 on Tuesday. The company has a market capitalization of $115.03 billion, a P/E ratio of 73.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00. The stock has a fifty day simple moving average of $206.26 and a 200 day simple moving average of $210.80. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 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 anticipate 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 is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.71%. Analog Devices’s dividend payout ratio (DPR) is 107.90%.

Analog Devices announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore ISI upped their target price on Analog Devices from $231.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. Williams Trading set a $260.00 price target on Analog Devices in a report on Friday, May 23rd. TD Cowen lifted their price objective 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. Morgan Stanley cut their target price 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, May 23rd. Finally, Oppenheimer lifted their price target on shares of Analog Devices from $225.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.50.

Insiders Place Their Bets

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at approximately $10,441,928.04. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at approximately $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,934 shares of company stock valued at $6,643,956 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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.