Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 12,865 shares of the semiconductor company’s stock after selling 148 shares during the quarter. Ballentine Partners LLC’s holdings in Analog Devices were worth $2,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADI. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the third quarter valued at $28,000. Archer Investment Corp raised its stake in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices in the 3rd quarter valued at about $43,000. Reston Wealth Management LLC purchased a new stake in shares of Analog Devices in the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Analog Devices during the third quarter worth about $80,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Up 1.9 %

ADI stock opened at $219.16 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $215.64 and a two-hundred day moving average of $222.47. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a market cap of $108.77 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly 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. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business earned $2.01 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday. Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Piper Sandler reduced their price target 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.70.

Insider Activity

In other news, EVP Gregory M. Bryant sold 20,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by insiders.

About Analog Devices

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.