Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 15,413 shares of the semiconductor company’s stock after selling 325 shares during the quarter. Bath Savings Trust Co’s holdings in Analog Devices were worth $3,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Analog Devices by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after purchasing an additional 39,186 shares during the period. Swiss National Bank lifted its stake in Analog Devices by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after acquiring an additional 7,386 shares in the last quarter. Summit Global Investments purchased a new stake in Analog Devices during the third quarter worth about $867,000. Finally, Versor Investments LP purchased a new stake in Analog Devices during the 3rd quarter worth approximately $952,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ADI. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Truist Financial dropped their price target on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.33.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is currently owned by corporate insiders.

Analog Devices Stock Down 0.3 %

Shares of NASDAQ ADI traded down $0.68 on Tuesday, hitting $217.32. The company had a trading volume of 1,704,509 shares, compared to its average volume of 2,269,527. The business has a 50 day moving average of $217.37 and a two-hundred day moving average of $223.22. 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 firm has a market capitalization of $107.86 billion, a P/E ratio of 66.05, a PEG ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

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.