Courier Capital LLC Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Courier Capital LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,537 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Courier Capital LLC’s holdings in Analog Devices were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ADI. Halpern Financial Inc. grew its position in shares of Analog Devices by 331.4% during the third quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 116 shares during the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of Analog Devices during the third quarter worth $29,000. Fortis Capital Advisors LLC acquired a new stake in shares of Analog Devices during the first quarter worth $31,000. West Tower Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth $32,000. Finally, Quarry LP lifted its holdings in shares of Analog Devices by 267.4% during the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 123 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Up 2.3 %

ADI opened at $193.33 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The stock has a market capitalization of $95.87 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 4.78 and a beta of 1.17. The business has a 50-day moving average of $192.77 and a two-hundred day moving average of $184.40. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $202.77.

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

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.90%. 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 (DPR) is currently 65.83%.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The stock was 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 $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 21,228 shares of company stock valued at $4,134,502 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several recent research reports. Edward Jones raised Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a report on Thursday, January 18th. Oppenheimer reissued an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. Finally, Barclays raised their target price on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. 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 an average rating of “Moderate Buy” and an average target price of $206.26.

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.