Forbes J M & Co. LLP Sells 632 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Forbes J M & Co. LLP lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,066 shares of the semiconductor company’s stock after selling 632 shares during the period. Forbes J M & Co. LLP’s holdings in Analog Devices were worth $804,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pinnacle Bancorp Inc. raised its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 65 shares during the period. USA Financial Formulas raised its stake in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares during the period. Cetera Trust Company N.A bought a new position in shares of Analog Devices during the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC bought a new position in shares of Analog Devices during the fourth quarter worth approximately $29,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Analog Devices during the fourth quarter worth approximately $32,000. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADI shares. Truist Financial increased their target price on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Susquehanna increased their price target on Analog Devices from $230.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 23rd. Barclays raised their price objective on Analog Devices from $185.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Evercore ISI started coverage on Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Insider Activity

In related news, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $236.58, for a total transaction of $1,142,681.40. Following the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the transaction, the chief accounting officer now directly owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The disclosure for this sale can be found here. Insiders have sold 50,121 shares of company stock valued at $10,875,654 in the last ninety days. 0.31% of the stock is owned by company insiders.

Analog Devices Price Performance

ADI stock traded up $1.54 during midday trading on Friday, reaching $231.05. 7,366,423 shares of the stock were exchanged, compared to its average volume of 2,849,571. The stock has a market capitalization of $114.65 billion, a PE ratio of 53.98, a P/E/G ratio of 3.87 and a beta of 1.12. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $241.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 1.13. The company has a fifty day moving average price of $216.13 and a 200 day moving average price of $201.18.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.26 by $0.14. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.83 EPS. As a group, analysts expect that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, June 4th. Analog Devices’s dividend payout ratio is 85.98%.

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.