Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 942,380 shares of the semiconductor company’s stock after selling 6,086 shares during the period. Rhumbline Advisers’ holdings in Analog Devices were worth $200,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices during the third quarter valued at approximately $28,000. Archer Investment Corp increased its stake in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. Financial Life Planners acquired a new position in Analog Devices in the 4th quarter worth $33,000. Peterson Financial Group Inc. purchased a new position in Analog Devices in the third quarter valued at about $43,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Analog Devices during the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ADI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Barclays decreased their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.52.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analog Devices Trading Up 2.5 %

Shares of ADI stock opened at $214.61 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The firm has a market capitalization of $106.47 billion, a PE ratio of 65.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. The stock has a fifty day moving average of $214.11 and a two-hundred day moving average of $219.80. 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 posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during 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%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.01 earnings per share. As a group, research analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current 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 issued a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.71%. Analog Devices’s payout ratio is 111.85%.

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.