Narwhal Capital Management Sells 3,815 Shares of Analog Devices, Inc. $ADI

Narwhal Capital Management decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,255 shares of the semiconductor company’s stock after selling 3,815 shares during the period. Analog Devices accounts for 1.1% of Narwhal Capital Management’s portfolio, making the stock its 22nd largest position. Narwhal Capital Management’s holdings in Analog Devices were worth $14,805,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Solstein Capital LLC grew its position in Analog Devices by 2.0% during the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after purchasing an additional 46 shares during the last quarter. SG Americas Securities LLC raised its holdings in Analog Devices by 684.6% in the third quarter. SG Americas Securities LLC now owns 862,314 shares of the semiconductor company’s stock worth $211,871,000 after buying an additional 752,411 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Analog Devices by 22.3% in the third quarter. Voya Investment Management LLC now owns 1,293,403 shares of the semiconductor company’s stock worth $317,789,000 after buying an additional 236,211 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Analog Devices by 55.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,204,226 shares of the semiconductor company’s stock valued at $295,878,000 after buying an additional 427,467 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Analog Devices by 7.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,001,839 shares of the semiconductor company’s stock valued at $238,458,000 after acquiring an additional 71,735 shares in the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, the director owned 142,571 shares of the company’s stock, valued at $32,821,269.91. The trade was a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Martin Cotter sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total value of $1,355,950.00. Following the completion of the sale, the senior vice president owned 59,664 shares of the company’s stock, valued at $16,180,280.16. This trade represents a 7.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 39,919 shares of company stock worth $10,464,462. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of several analyst reports. Piper Sandler set a $290.00 price objective on Analog Devices in a research report on Tuesday, November 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price target on shares of Analog Devices in a research note on Tuesday, December 16th. Morgan Stanley increased their price objective on Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Analog Devices in a report on Tuesday, November 25th. Finally, Zacks Research upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.22.

Analog Devices Stock Up 0.6%

ADI stock opened at $300.93 on Friday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $303.20. The business’s 50-day moving average is $262.65 and its two-hundred day moving average is $247.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a market cap of $147.35 billion, a price-to-earnings ratio of 65.99, a P/E/G ratio of 1.65 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.04. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is currently 86.84%.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.