Twin Capital Management Inc. Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Twin Capital Management Inc. reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 85.1% during the 4th quarter, HoldingsChannel reports. The firm owned 1,809 shares of the semiconductor company’s stock after selling 10,333 shares during the period. Twin Capital Management Inc.’s holdings in Analog Devices were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ADI. Pinnacle Bancorp Inc. lifted 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 valued at $26,000 after buying an additional 65 shares during the period. Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $29,000. Fortis Capital Advisors LLC acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $31,000. Quarry LP lifted its holdings in shares of Analog Devices by 267.4% in the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 123 shares during the period. Finally, Worth Asset Management LLC acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $33,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a report on Thursday, February 22nd. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a report on Thursday, January 4th. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a report on Thursday, January 18th. Finally, Truist Financial reduced their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $208.17.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,707 shares of company stock valued at $4,825,113. Company insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $183.36 on Friday. The company has a market cap of $90.93 billion, a P/E ratio of 32.80, a P/E/G ratio of 4.75 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The business has a fifty day simple moving average of $192.82 and a 200-day simple moving average of $186.53.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 earnings per share. Equities research analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

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.