WASHINGTON TRUST Co Sells 1,293 Shares of Analog Devices, Inc. (NASDAQ:ADI)

WASHINGTON TRUST Co lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 99,481 shares of the semiconductor company’s stock after selling 1,293 shares during the period. WASHINGTON TRUST Co’s holdings in Analog Devices were worth $21,136,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in shares of Analog Devices in the third quarter valued at about $28,000. Archer Investment Corp boosted 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 valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners acquired a new stake in Analog Devices in the 4th quarter valued at approximately $33,000. Peterson Financial Group Inc. bought a new position in Analog Devices in the 3rd quarter worth approximately $43,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Analog Devices during the third quarter worth approximately $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

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

Analog Devices Price Performance

NASDAQ:ADI opened at $214.61 on Friday. The firm has a market cap 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 company’s 50-day moving average price is $214.11 and its two-hundred day moving average price is $219.80. 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, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company earned $2.01 EPS. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. Analog Devices’s dividend payout ratio is 111.85%.

Analyst Ratings Changes

ADI has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company began coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Benchmark started coverage on shares of Analog Devices in a research note on Friday. They issued a “buy” rating and a $245.00 target price for the company. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.52.

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.