Confluence Investment Management LLC Has $136.82 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Confluence Investment Management LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 643,987 shares of the semiconductor company’s stock after selling 7,459 shares during the period. Analog Devices makes up about 1.9% of Confluence Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. Confluence Investment Management LLC owned 0.13% of Analog Devices worth $136,821,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp increased its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the period. Trifecta Capital Advisors LLC raised its holdings in Analog Devices by 544.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 158 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Analog Devices during the 3rd quarter valued at about $43,000. Finally, Reston Wealth Management LLC bought a new position in shares of Analog Devices in the 3rd quarter valued at about $48,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock valued at $8,874,400. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on ADI. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Truist Financial decreased their price objective on Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.33.

Analog Devices Price Performance

Shares of ADI traded up $1.15 during mid-day trading on Thursday, reaching $213.61. The company had a trading volume of 458,000 shares, compared to its average volume of 3,211,734. The company has a market capitalization of $106.01 billion, a price-to-earnings ratio of 64.93, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company’s 50 day simple moving average is $218.28 and its 200 day simple moving average is $223.68. Analog Devices, Inc. has a 1-year low of $181.80 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the company earned $2.01 earnings per share. Analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.72%. The ex-dividend date was Monday, December 9th. Analog Devices’s 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.