Boltwood Capital Management Sells 130 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Boltwood Capital Management decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,310 shares of the semiconductor company’s stock after selling 130 shares during the quarter. Boltwood Capital Management’s holdings in Analog Devices were worth $762,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Italy S.r.l. acquired a new position in Analog Devices during the fourth quarter worth about $6,367,000. Grayhawk Investment Strategies Inc. bought a new position in Analog Devices in the 4th quarter valued at approximately $850,000. Capital International Investors raised its holdings in Analog Devices by 5.8% in the 4th quarter. Capital International Investors now owns 4,510,652 shares of the semiconductor company’s stock valued at $895,702,000 after buying an additional 246,799 shares during the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in Analog Devices by 1,055.6% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 228,275 shares of the semiconductor company’s stock worth $45,326,000 after acquiring an additional 208,522 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in Analog Devices by 16.2% during the 4th quarter. Profund Advisors LLC now owns 72,344 shares of the semiconductor company’s stock worth $14,365,000 after acquiring an additional 10,106 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADI. Bank of America cut their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Truist Financial lowered Analog Devices from a “buy” rating to a “hold” rating and reduced their price target for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Barclays raised their price objective on Analog Devices from $235.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Morgan Stanley upped their target price on Analog Devices from $250.00 to $257.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $11,640,975.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $11,640,975.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward H. Frank sold 995 shares of Analog Devices stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the transaction, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. The disclosure for this sale can be found here. Insiders have sold a total of 91,495 shares of company stock worth $20,794,658 over the last ninety days. 0.31% of the stock is currently owned by company insiders.

Analog Devices Trading Up 1.8 %

NASDAQ:ADI opened at $227.73 on Thursday. The company has a market cap of $113.00 billion, a PE ratio of 53.21, a PEG ratio of 3.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $244.14. The firm has a 50-day moving average of $222.68 and a 200-day moving average of $218.04.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 EPS. As a group, equities research analysts expect that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Analog Devices’s dividend payout ratio (DPR) is 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.