Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Lessened by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 72.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 950 shares of the semiconductor company’s stock after selling 2,506 shares during the period. Sterling Investment Counsel LLC’s holdings in Analog Devices were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nilsine Partners LLC boosted its position in Analog Devices by 74.0% during the 4th quarter. Nilsine Partners LLC now owns 1,832 shares of the semiconductor company’s stock worth $389,000 after acquiring an additional 779 shares during the period. Slow Capital Inc. raised its stake in shares of Analog Devices by 3.4% during the fourth quarter. Slow Capital Inc. now owns 17,984 shares of the semiconductor company’s stock valued at $3,821,000 after purchasing an additional 591 shares in the last quarter. Lebenthal Global Advisors LLC lifted its holdings in Analog Devices by 14.0% in the fourth quarter. Lebenthal Global Advisors LLC now owns 5,022 shares of the semiconductor company’s stock worth $1,067,000 after purchasing an additional 616 shares during the period. Foundations Investment Advisors LLC grew its position in Analog Devices by 26.6% in the 4th quarter. Foundations Investment Advisors LLC now owns 2,557 shares of the semiconductor company’s stock valued at $543,000 after buying an additional 537 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Analog Devices by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 78,709 shares of the semiconductor company’s stock valued at $16,723,000 after buying an additional 1,524 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ADI shares. Piper Sandler reduced their price target 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. Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Truist Financial upped their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $215.42 on Tuesday. The stock has a market cap of $106.88 billion, a PE ratio of 65.48, a price-to-earnings-growth 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 has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $216.42 and a 200-day simple moving average of $222.09.

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 the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the business posted $2.01 EPS. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices 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 completion of the transaction, the executive vice president now owns 59,093 shares in the company, 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. Insiders sold 50,000 shares of company stock worth $11,029,300 over the last ninety days. 0.31% of the stock is currently owned by insiders.

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.