Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,440 shares of the semiconductor company’s stock after selling 100 shares during the period. Sheets Smith Wealth Management’s holdings in Analog Devices were worth $1,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates grew its stake in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares during the period. Franklin Resources Inc. grew its position in Analog Devices by 14.9% during the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the period. International Assets Investment Management LLC increased its holdings in Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after buying an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after acquiring an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after acquiring an additional 823,709 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Up 1.0 %

ADI stock opened at $221.45 on Wednesday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a market cap of $109.87 billion, a price-to-earnings ratio of 67.31, a PEG ratio of 2.51 and a beta of 1.05. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $215.62 and a 200-day simple moving average of $222.39.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. 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 posted $2.01 EPS. On average, equities research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ADI shares. Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley dropped their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Barclays dropped their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.70.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 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 $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction 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. The trade was 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 have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is currently owned by corporate 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.