Congress Asset Management Co. MA Sells 316 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Congress Asset Management Co. MA reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,560 shares of the semiconductor company’s stock after selling 316 shares during the quarter. Congress Asset Management Co. MA’s holdings in Analog Devices were worth $17,714,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its position in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the period. USA Financial Formulas increased its holdings in Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares in the last quarter. Silver Oak Securities Incorporated purchased a new stake in Analog Devices during the 3rd quarter valued at approximately $29,000. Cetera Trust Company N.A purchased a new stake in Analog Devices during the 4th quarter valued at approximately $29,000. Finally, Private Wealth Management Group LLC purchased a new stake in Analog Devices during the 4th quarter valued at approximately $29,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the sale, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares in the company, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael Sondel sold 4,830 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the transaction, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,121 shares of company stock worth $10,875,654. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADI. Truist Financial raised their target price on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Robert W. Baird upped their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Stifel Nicolaus upped their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. UBS Group boosted their target price on shares of Analog Devices from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

Analog Devices Trading Up 0.7 %

Analog Devices stock opened at $231.05 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The stock’s 50 day simple moving average is $216.13 and its two-hundred day simple moving average is $201.18. The firm has a market cap of $114.65 billion, a PE ratio of 53.98, a P/E/G ratio of 3.87 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the firm posted $2.83 EPS. The business’s revenue was down 33.8% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 6.24 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a $0.92 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.59%. Analog Devices’s payout ratio is currently 85.98%.

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.