Bowman & Co S.C. Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Bowman & Co S.C. lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,977 shares of the semiconductor company’s stock after selling 1,028 shares during the period. Bowman & Co S.C.’s holdings in Analog Devices were worth $1,272,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADI. Grove Bank & Trust boosted its stake in Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after purchasing an additional 43 shares during the last quarter. Legacy Financial Advisors Inc. boosted its position in Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company’s stock worth $795,000 after acquiring an additional 48 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares in the last quarter. Bank of Hawaii raised its holdings in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after acquiring an additional 48 shares during the last quarter. Finally, MONECO Advisors LLC lifted its stake in Analog Devices by 2.8% in the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 50 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, 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 filing with the SEC, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $219.16 on Friday. The company has a market cap of $108.77 billion, a P/E ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. The firm has a fifty day moving average price of $215.64 and a 200 day moving average price of $222.56. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.01 EPS. Sell-side analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.68%. Analog Devices’s dividend payout ratio is presently 111.85%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. TD Cowen cut their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Morgan Stanley reduced their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company began coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently 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.