Legato Capital Management LLC Has $3.20 Million Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Legato Capital Management LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 34.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,056 shares of the semiconductor company’s stock after selling 8,048 shares during the period. Legato Capital Management LLC’s holdings in Analog Devices were worth $3,199,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp boosted its holdings in shares of Analog Devices by 101.4% in 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. Financial Life Planners bought a new position in shares of Analog Devices in the fourth quarter valued at $33,000. Peterson Financial Group Inc. acquired a new position in Analog Devices during the third quarter worth $43,000. Finally, Reston Wealth Management LLC acquired a new position in Analog Devices during the third quarter worth $48,000. Institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by insiders.

Analog Devices Trading Down 0.7 %

Shares of ADI stock opened at $203.46 on Wednesday. The stock has a 50 day simple moving average of $214.48 and a 200 day simple moving average of $219.98. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year 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 has a market cap of $100.94 billion, a P/E ratio of 61.84, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

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 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 firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $2.01 EPS. The company’s revenue was down 10.1% compared to the same quarter last year. On average, research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is presently 111.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ADI shares. Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Truist Financial lifted their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Barclays dropped their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $248.70.

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.