Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,261 shares of the semiconductor company’s stock after selling 1,999 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Analog Devices were worth $1,755,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ADI. Fulton Bank N.A. grew its stake in Analog Devices by 3.1% in the fourth quarter. Fulton Bank N.A. now owns 1,996 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 60 shares in the last quarter. Fortem Financial Group LLC raised its stake in Analog Devices by 1.8% during the fourth quarter. Fortem Financial Group LLC now owns 6,397 shares of the semiconductor company’s stock valued at $1,359,000 after buying an additional 116 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in Analog Devices by 38.9% during the 4th quarter. CWA Asset Management Group LLC now owns 4,441 shares of the semiconductor company’s stock worth $944,000 after buying an additional 1,244 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Analog Devices by 4.5% in the 4th quarter. Nordea Investment Management AB now owns 43,967 shares of the semiconductor company’s stock worth $9,381,000 after acquiring an additional 1,893 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in shares of Analog Devices by 5.9% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,346 shares of the semiconductor company’s stock valued at $286,000 after acquiring an additional 75 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Morgan Stanley reduced their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Finally, Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.33.

Analog Devices Trading Up 2.1 %

Analog Devices stock opened at $220.44 on Thursday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The stock has a market capitalization of $109.40 billion, a PE ratio of 67.00, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The firm has a 50 day simple moving average of $216.79 and a 200-day simple moving average of $223.10.

Analog Devices (NASDAQ:ADI) last issued its quarterly 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 firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $2.01 EPS. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

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

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is owned by insiders.

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.