Riverbridge Partners LLC Sells 15,349 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Riverbridge Partners LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 418,902 shares of the semiconductor company’s stock after selling 15,349 shares during the quarter. Riverbridge Partners LLC’s holdings in Analog Devices were worth $89,000,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ADI. Grove Bank & Trust increased its holdings in Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after purchasing an additional 43 shares during the last quarter. Quotient Wealth Partners LLC increased its stake in shares of Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares during the last quarter. Bank of Hawaii raised its position in shares of Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after acquiring an additional 48 shares during the period. MONECO Advisors LLC boosted its stake in Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after acquiring an additional 50 shares during the last quarter. Finally, DT Investment Partners LLC grew its holdings in Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after purchasing an additional 51 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADI shares. Truist Financial lifted their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Up 1.2 %

ADI stock opened at $224.08 on Thursday. The company has a market cap of $111.18 billion, a price-to-earnings ratio of 68.11, a P/E/G ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The business has a 50 day moving average price of $215.66 and a two-hundred day moving average price of $222.33. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its earnings results 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. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $2.01 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.64%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,000 shares of company stock worth $11,029,300. Company insiders own 0.31% of the company’s stock.

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.