CX Institutional Cuts Position in Analog Devices, Inc. (NASDAQ:ADI)

CX Institutional trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,862 shares of the semiconductor company’s stock after selling 47 shares during the quarter. CX Institutional’s holdings in Analog Devices were worth $1,033,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on 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 sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $11,029,300 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Down 4.8 %

Shares of NASDAQ ADI opened at $217.37 on Friday. The company has a market cap of $107.85 billion, a price-to-earnings ratio of 66.07, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. 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’s 50 day simple moving average is $216.42 and its 200 day simple moving average is $222.27.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS. Equities research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ADI shares. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Truist Financial raised their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Barclays lowered their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler lowered their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

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.