Boltwood Capital Management Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Boltwood Capital Management reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,255 shares of the semiconductor company’s stock after selling 55 shares during the quarter. Boltwood Capital Management’s holdings in Analog Devices were worth $692,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADI. Grove Bank & Trust boosted its position in shares of Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares during the period. Legacy Financial Advisors Inc. raised its stake in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 48 shares in the last quarter. Quotient Wealth Partners LLC grew its stake in Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares in the last quarter. Bank of Hawaii increased its holdings in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the period. Finally, Investment Partners LTD. raised its position in Analog Devices by 2.9% during the 2nd quarter. Investment Partners LTD. now owns 1,746 shares of the semiconductor company’s stock valued at $399,000 after purchasing an additional 50 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 other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ADI shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Morgan Stanley lowered their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.33.

Analog Devices Trading Up 2.5 %

Analog Devices stock traded up $5.38 during mid-day trading on Monday, hitting $220.75. The company’s stock had a trading volume of 685,691 shares, compared to its average volume of 1,846,612. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The firm has a market capitalization of $109.56 billion, a PE ratio of 67.10, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The stock’s fifty day moving average is $217.62 and its two-hundred day moving average is $223.30. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the company earned $2.01 earnings per share. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.67%. Analog Devices’s dividend payout ratio is presently 111.85%.

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.