Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Courier Capital LLC

Courier Capital LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 30.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,071 shares of the semiconductor company’s stock after selling 466 shares during the quarter. Courier Capital LLC’s holdings in Analog Devices were worth $212,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. raised its holdings in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. USA Financial Formulas raised its holdings in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in Analog Devices during the third quarter worth approximately $29,000. Cetera Trust Company N.A acquired a new stake in Analog Devices during the fourth quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Analog Devices during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now owns 69,241 shares in the company, valued at approximately $16,198,239.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares in the company, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold a total of 50,121 shares of company stock worth $10,875,654 in the last 90 days. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADI has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Oppenheimer lifted their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Barclays lifted their price objective on shares of Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Truist Financial lifted their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Sanford C. Bernstein lifted their price objective on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Analog Devices Trading Up 0.7 %

Shares of NASDAQ:ADI traded up $1.58 during trading on Friday, reaching $228.26. 3,534,433 shares of the stock were exchanged, compared to its average volume of 3,339,428. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.13 and a current ratio of 1.58. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88. The firm has a market cap of $113.27 billion, a price-to-earnings ratio of 52.96, a price-to-earnings-growth ratio of 3.84 and a beta of 1.12. The firm’s 50-day moving average price is $218.45 and its 200 day moving average price is $202.13.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business earned $2.83 EPS. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. On average, sell-side analysts anticipate that Analog Devices, Inc. will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is presently 85.98%.

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.