Pinkerton Retirement Specialists LLC Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

Pinkerton Retirement Specialists LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,418 shares of the semiconductor company’s stock after selling 64 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in Analog Devices were worth $3,063,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Analog Devices in the 4th quarter valued at approximately $27,000. Hopwood Financial Services Inc. purchased a new position in shares of Analog Devices during the fourth quarter worth $30,000. Mainstream Capital Management LLC purchased a new position in shares of Analog Devices during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC grew its stake in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Finally, Financial Life Planners purchased a new stake in shares of Analog Devices in the 4th quarter valued at $33,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In related news, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total value of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $10,441,928.04. This represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the transaction, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,934 shares of company stock worth $8,735,156. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on ADI shares. Lake Street Capital started coverage on Analog Devices in a report on Friday, February 14th. They set a “buy” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Seaport Res Ptn upgraded shares of Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Morgan Stanley set a $214.00 target price on shares of Analog Devices in a report on Monday, April 21st. Finally, Truist Financial boosted their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.35.

Analog Devices Trading Down 1.0%

ADI opened at $222.22 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $247.10. The company has a market cap of $110.22 billion, a P/E ratio of 70.77, a PEG ratio of 2.85 and a beta of 0.98. The business’s 50-day simple moving average is $197.63 and its 200-day simple moving average is $210.50.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 earnings per share. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.