Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,090 shares of the semiconductor company’s stock after selling 87 shares during the quarter. Principle Wealth Partners LLC’s holdings in Analog Devices were worth $415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CTC Alternative Strategies Ltd. acquired a new position in Analog Devices during the fourth quarter worth $1,152,000. Sequoia Financial Advisors LLC boosted its stake in shares of Analog Devices by 107.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock worth $2,515,000 after acquiring an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Analog Devices by 37.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after acquiring an additional 2,215 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Analog Devices by 4.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Analog Devices by 31.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after purchasing an additional 89,504 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Up 2.0 %

Analog Devices stock opened at $201.97 on Monday. The firm has a market capitalization of $100.16 billion, a P/E ratio of 36.13, a P/E/G ratio of 5.07 and a beta of 1.17. The stock’s fifty day simple moving average is $193.45 and its 200-day simple moving average is $187.44. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

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

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.82%. Analog Devices’s dividend payout ratio is currently 65.83%.

Analyst Ratings Changes

ADI has been the topic of several research reports. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research note on Thursday, January 18th. Truist Financial cut their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. KeyCorp raised their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.17.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director James Champy sold 1,228 shares of the business’s 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 sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were 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 owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock valued at $4,825,113. Insiders own 0.31% of the company’s stock.

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.