Analog Devices, Inc. (NASDAQ:ADI) Position Cut by Ledyard National Bank

Ledyard National Bank lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.5% during the 4th quarter, Holdings Channel reports. The fund owned 2,339 shares of the semiconductor company’s stock after selling 429 shares during the period. Ledyard National Bank’s holdings in Analog Devices were worth $497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the third quarter worth approximately $28,000. Archer Investment Corp lifted its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares during the period. Financial Life Planners bought a new position in Analog Devices during the fourth quarter valued at about $33,000. Peterson Financial Group Inc. bought a new position in Analog Devices during the third quarter valued at about $43,000. Finally, Reston Wealth Management LLC bought a new stake in Analog Devices in the third quarter worth about $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial raised their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Finally, Morgan Stanley cut their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Trading Down 1.3 %

Shares of NASDAQ ADI opened at $205.21 on Friday. The stock has a market cap of $101.81 billion, a price-to-earnings ratio of 62.37, a PEG ratio of 2.43 and a beta of 1.04. The business has a 50 day simple moving average of $215.46 and a 200 day simple moving average of $220.59. 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, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly 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 business had revenue of $2.44 billion for the quarter, compared to the consensus estimate 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 last year, the firm earned $2.01 EPS. On average, research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is 111.85%.

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.