Cerro Pacific Wealth Advisors LLC Has $1.34 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Cerro Pacific Wealth Advisors LLC raised its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,830 shares of the semiconductor company’s stock after purchasing an additional 188 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Analog Devices were worth $1,342,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. 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. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADI. Piper Sandler decreased their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Truist Financial boosted their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Barclays cut 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, January 17th. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices Stock Up 1.9 %

Shares of ADI opened at $228.35 on Friday. 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 stock has a market capitalization of $113.30 billion, a PE ratio of 69.41, a P/E/G ratio of 2.54 and a beta of 1.05. The firm’s 50 day moving average is $215.88 and its 200-day moving average is $222.34. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced 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. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm earned $2.01 EPS. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. Equities research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The company 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

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.