Washington Trust Advisors Inc. Sells 82 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Washington Trust Advisors Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 24.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 251 shares of the semiconductor company’s stock after selling 82 shares during the period. Washington Trust Advisors Inc.’s holdings in Analog Devices were worth $50,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Analog Devices during the fourth quarter worth about $1,040,194,000. Moneta Group Investment Advisors LLC increased its stake in shares of Analog Devices by 101,479.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,111,943 shares of the semiconductor company’s stock valued at $674,482,000 after purchasing an additional 4,107,895 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Analog Devices by 236.6% during the second quarter. Alliancebernstein L.P. now owns 2,312,235 shares of the semiconductor company’s stock valued at $450,446,000 after purchasing an additional 1,625,377 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Analog Devices by 639.7% during the third quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after purchasing an additional 1,486,180 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 James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,228 shares of company stock worth $4,134,502. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI traded up $3.90 during trading on Thursday, hitting $197.23. 1,367,351 shares of the company were exchanged, compared to its average volume of 3,412,459. The company has a market cap of $97.81 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 4.74 and a beta of 1.17. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $202.77. The firm’s fifty day moving average price is $192.77 and its 200 day moving average price is $184.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business’s revenue was down 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 EPS. On average, sell-side analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ADI shares. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. The Goldman Sachs Group increased their price target on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Barclays increased their price target on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Truist Financial cut their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, KeyCorp raised their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $206.26.

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.