1,214 Shares in Analog Devices, Inc. (NASDAQ:ADI) Bought by Sovran Advisors LLC

Sovran Advisors LLC purchased a new stake in Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,214 shares of the semiconductor company’s stock, valued at approximately $261,000.

A number of other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp raised 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 acquiring an additional 73 shares in the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the fourth quarter valued at $33,000. Peterson Financial Group Inc. acquired a new position in Analog Devices in the third quarter valued at $43,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Analog Devices during the third quarter worth about $48,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley decreased their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Barclays cut their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Truist Financial increased their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analog Devices Stock Up 2.1 %

ADI opened at $209.34 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The stock has a market capitalization of $103.86 billion, a P/E ratio of 63.63, a P/E/G ratio of 2.38 and a beta of 1.04. The business has a 50 day simple moving average of $214.22 and a 200-day simple moving average of $219.87.

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

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.76%. Analog Devices’s payout ratio is currently 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.