Crossmark Global Holdings Inc. Sells 5,317 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Crossmark Global Holdings Inc. trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,691 shares of the semiconductor company’s stock after selling 5,317 shares during the period. Crossmark Global Holdings Inc.’s holdings in Analog Devices were worth $16,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new position in shares of Analog Devices in the second quarter worth approximately $618,000. AE Wealth Management LLC raised its position in shares of Analog Devices by 20.9% during the second quarter. AE Wealth Management LLC now owns 19,250 shares of the semiconductor company’s stock valued at $4,394,000 after buying an additional 3,327 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Analog Devices by 9.8% during the second quarter. Thrivent Financial for Lutherans now owns 24,754 shares of the semiconductor company’s stock worth $5,651,000 after acquiring an additional 2,216 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Analog Devices by 15.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,672 shares of the semiconductor company’s stock valued at $387,000 after acquiring an additional 223 shares during the last quarter. Finally, DRW Securities LLC boosted its holdings in shares of Analog Devices by 106.2% during the 2nd quarter. DRW Securities LLC now owns 4,152 shares of the semiconductor company’s stock valued at $948,000 after purchasing an additional 70,620 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.9 %

Analog Devices stock opened at $219.16 on Tuesday. The firm’s 50 day moving average price is $215.64 and its two-hundred day moving average price is $222.47. The firm has a market cap of $108.77 billion, a price-to-earnings ratio of 66.61, a price-to-earnings-growth ratio of 2.43 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. Analog Devices, Inc. has a 1 year low of $182.57 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 earnings per share. On average, research analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADI. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective on the stock. Barclays dropped their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday. Truist Financial lifted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Piper Sandler decreased their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Buying and Selling

In related news, 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 completion of the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 over the last ninety days. Company 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.