Community Financial Services Group LLC Increases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Community Financial Services Group LLC increased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,452 shares of the semiconductor company’s stock after acquiring an additional 847 shares during the quarter. Community Financial Services Group LLC’s holdings in Analog Devices were worth $1,796,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Analog Devices by 1.5% in the third 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 last quarter. Swiss National Bank grew its holdings in Analog Devices by 0.3% in 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 during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Analog Devices by 47.7% during the third 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 during the last quarter. Curbstone Financial Management Corp purchased a new stake in shares of Analog Devices during the fourth quarter worth about $460,000. Finally, Summit Global Investments bought a new stake in shares of Analog Devices in the third quarter worth about $867,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 0.7 %

NASDAQ:ADI opened at $203.46 on Wednesday. The firm has a 50-day simple moving average of $214.84 and a two-hundred day simple moving average of $220.14. The firm has a market cap of $100.94 billion, a P/E ratio of 61.84, a P/E/G ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. 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 announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the business earned $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’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 sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays dropped their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Truist Financial boosted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. TD Cowen dropped their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

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.