Analog Devices, Inc. (NASDAQ:ADI) Stake Cut by First Pacific Financial

First Pacific Financial lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,593 shares of the semiconductor company’s stock after selling 64 shares during the quarter. First Pacific Financial’s holdings in Analog Devices were worth $1,111,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank purchased a new position in Analog Devices in the fourth quarter valued at about $1,040,194,000. Moneta Group Investment Advisors LLC increased its holdings in Analog Devices by 101,479.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock worth $674,482,000 after buying an additional 4,107,895 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after acquiring an additional 2,497,696 shares in the last quarter. Alliancebernstein L.P. raised its position in Analog Devices by 236.6% during the second quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after acquiring an additional 1,625,377 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Analog Devices by 639.7% in the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after acquiring an additional 1,486,180 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research note on Thursday, January 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 target price (down previously from $219.00) on shares of Analog Devices in a research report on Thursday, February 22nd. Truist Financial reduced their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a report on Thursday, January 18th. Finally, KeyCorp raised their price target on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.26.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 21,228 shares of company stock valued at $4,134,502 over the last three months. 0.31% of the stock is owned by insiders.

Analog Devices Stock Performance

Analog Devices stock opened at $193.33 on Thursday. The firm has a market capitalization of $95.87 billion, a P/E ratio of 34.58, a P/E/G ratio of 4.74 and a beta of 1.17. The stock has a fifty day moving average price of $192.77 and a two-hundred day moving average price of $184.40. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $202.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue was down 22.7% on a year-over-year basis. During the same quarter last year, the business posted $2.75 earnings per share. As a group, analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

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.