Hunter Perkins Capital Management LLC Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Hunter Perkins Capital Management LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,806 shares of the semiconductor company’s stock after selling 1,880 shares during the quarter. Analog Devices comprises approximately 2.5% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 12th largest position. Hunter Perkins Capital Management LLC’s holdings in Analog Devices were worth $12,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA purchased a new stake in shares of Analog Devices in the fourth quarter worth $1,690,000. Blue Trust Inc. grew its position in Analog Devices by 20.4% during the 4th quarter. Blue Trust Inc. now owns 5,801 shares of the semiconductor company’s stock valued at $1,335,000 after purchasing an additional 982 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Analog Devices by 30.0% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,984 shares of the semiconductor company’s stock valued at $1,909,000 after purchasing an additional 2,071 shares during the last quarter. Harrell Investment Partners LLC raised its holdings in Analog Devices by 2.6% in the fourth quarter. Harrell Investment Partners LLC now owns 17,948 shares of the semiconductor company’s stock worth $3,813,000 after buying an additional 455 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in Analog Devices by 0.3% in the fourth quarter. First Citizens Bank & Trust Co. now owns 40,625 shares of the semiconductor company’s stock worth $8,631,000 after buying an additional 103 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $217.37 on Monday. The stock has a market cap of $107.85 billion, a price-to-earnings ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The company’s 50 day moving average is $216.42 and its two-hundred day moving average is $222.09. 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 (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.01 EPS. As a group, research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Analyst Upgrades and Downgrades

ADI has been the subject of several analyst reports. Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. TD Cowen decreased their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company assumed coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Insider Buying and Selling

In related news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value 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. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. Corporate insiders own 0.31% of the company’s stock.

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.