Courier Capital LLC Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Courier Capital LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,537 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Courier Capital LLC’s holdings in Analog Devices were worth $305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Penobscot Investment Management Company Inc. raised its position in Analog Devices by 7.0% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock worth $1,766,000 after purchasing an additional 658 shares during the period. Gateway Investment Advisers LLC raised its position in Analog Devices by 5.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock worth $28,924,000 after purchasing an additional 7,021 shares during the period. First Foundation Advisors raised its position in Analog Devices by 0.6% in the 2nd quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock worth $3,180,000 after purchasing an additional 97 shares during the period. Rockline Wealth Management LLC bought a new stake in Analog Devices in the 4th quarter worth $334,000. Finally, Commonwealth Equity Services LLC grew its holdings in Analog Devices by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 292,441 shares of the semiconductor company’s stock worth $51,204,000 after acquiring an additional 8,914 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total value of $1,970,700.00. Following the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,125,860.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total value of $1,970,700.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,125,860.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,228 shares of company stock valued at $4,134,502. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ADI shares. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a report on Thursday, January 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 target price (down previously from $219.00) on shares of Analog Devices in a research note on Thursday, February 22nd. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. KeyCorp lifted their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Truist Financial lowered their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.26.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $193.33 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The firm has a fifty day moving average price of $192.77 and a 200 day moving average price of $184.40. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $202.77. The firm has a market cap of $95.87 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 4.78 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.75 earnings per share. As a group, sell-side analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.90%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is currently 65.83%.

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.