Moran Wealth Management LLC Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

Moran Wealth Management LLC lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,684 shares of the semiconductor company’s stock after selling 375 shares during the quarter. Moran Wealth Management LLC’s holdings in Analog Devices were worth $731,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas grew its stake in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in Analog Devices during the 3rd quarter worth $29,000. Cetera Trust Company N.A purchased a new position in Analog Devices during the 4th quarter worth $29,000. Finally, Northwest Capital Management Inc grew its stake in Analog Devices by 519.2% during the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded down $0.24 during trading hours on Thursday, reaching $215.51. The stock had a trading volume of 111,765 shares, compared to its average volume of 3,272,211. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $216.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The business’s fifty day moving average is $196.87 and its two-hundred day moving average is $190.66. The company has a market cap of $106.87 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 5.24 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.75 EPS. As a group, research analysts expect that Analog Devices, Inc. will post 5.85 EPS for the current year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ADI shares. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Cantor Fitzgerald raised their price objective on Analog Devices from $205.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday. Oppenheimer raised their price objective on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday. The Goldman Sachs Group raised their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $212.63.

Insider Activity

In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,874,613 over the last 90 days. 0.31% of the stock is owned by company insiders.

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.