Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Castellan Group

Castellan Group trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,952 shares of the semiconductor company’s stock after selling 1,129 shares during the quarter. Castellan Group’s holdings in Analog Devices were worth $2,327,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. Charles Schwab Investment Management Inc. lifted its position in 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 period. Swiss National Bank raised its stake in shares of 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 buying an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Analog Devices by 47.7% in 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 buying an additional 7,386 shares during the period. Curbstone Financial Management Corp bought a new position in Analog Devices during the fourth quarter valued at about $460,000. Finally, Summit Global Investments acquired a new position in Analog Devices during the third quarter worth about $867,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 0.8 %

ADI stock opened at $205.13 on Thursday. The company has a 50 day moving average of $214.48 and a two-hundred day moving average of $219.98. The company has a market cap of $101.77 billion, a price-to-earnings ratio of 62.35, a PEG ratio of 2.38 and a beta of 1.04. 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.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company earned $2.01 earnings per share. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared 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 of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. Analog Devices’s payout ratio is 111.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ADI shares. TD Cowen reduced their price objective 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. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

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.