Daymark Wealth Partners LLC Sells 1,083 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Daymark Wealth Partners LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.4% during the 4th quarter, Holdings Channel reports. The firm owned 23,711 shares of the semiconductor company’s stock after selling 1,083 shares during the period. Daymark Wealth Partners LLC’s holdings in Analog Devices were worth $5,038,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Analog Devices in the third quarter valued at about $28,000. Archer Investment Corp raised its position in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $43,000. Reston Wealth Management LLC bought a new position in Analog Devices during the 3rd quarter worth approximately $48,000. Finally, Northwest Investment Counselors LLC acquired a new position in Analog Devices during the third quarter valued at approximately $80,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADI. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Truist Financial lifted their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Morgan Stanley lowered their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Stock Performance

Shares of NASDAQ ADI opened at $221.45 on Wednesday. The stock has a market capitalization of $109.87 billion, a PE ratio of 67.31, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The stock has a 50 day moving average price of $215.66 and a 200 day moving average price of $222.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data 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 the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. Analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.66%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,000 shares of company stock worth $11,029,300. Company insiders own 0.31% of the company’s stock.

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.