Professional Advisory Services Inc. Sells 4,138 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Professional Advisory Services Inc. lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,160 shares of the semiconductor company’s stock after selling 4,138 shares during the period. Analog Devices comprises about 2.0% of Professional Advisory Services Inc.’s portfolio, making the stock its 28th largest holding. Professional Advisory Services Inc.’s holdings in Analog Devices were worth $14,481,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC grew its holdings in Analog Devices by 40.2% during the fourth quarter. Merit Financial Group LLC now owns 5,776 shares of the semiconductor company’s stock worth $1,227,000 after purchasing an additional 1,656 shares during the period. Relyea Zuckerberg Hanson LLC boosted its stake in shares of Analog Devices by 4.3% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,406 shares of the semiconductor company’s stock worth $299,000 after acquiring an additional 58 shares during the period. Saxon Interests Inc. increased its holdings in shares of Analog Devices by 12.7% during the 4th quarter. Saxon Interests Inc. now owns 5,280 shares of the semiconductor company’s stock worth $1,122,000 after acquiring an additional 593 shares during the last quarter. RDA Financial Network raised its stake in Analog Devices by 21.1% in the 4th quarter. RDA Financial Network now owns 7,568 shares of the semiconductor company’s stock valued at $1,608,000 after acquiring an additional 1,319 shares during the period. Finally, Woodstock Corp lifted its holdings in Analog Devices by 0.8% during the 4th quarter. Woodstock Corp now owns 22,952 shares of the semiconductor company’s stock valued at $4,876,000 after purchasing an additional 180 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on ADI shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Morgan Stanley lowered their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.57.

Insider Buying and Selling at Analog Devices

In other 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 transaction of $4,477,400.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 1.9 %

Shares of ADI stock opened at $219.16 on Friday. 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 fifty-two week low of $182.57 and a fifty-two week high of $244.14. The company has a market cap of $108.74 billion, a PE ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. The stock’s fifty day moving average price is $215.78 and its two-hundred day moving average price is $222.60.

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%. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. Equities analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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

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.