Evernest Financial Advisors LLC Cuts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Evernest Financial Advisors LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,345 shares of the semiconductor company’s stock after selling 76 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Analog Devices were worth $711,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after buying an additional 106,664 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Analog Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after acquiring an additional 135,838 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. FMR LLC boosted its stake in Analog Devices by 9.9% in the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after purchasing an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Analog Devices by 17.3% during the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after purchasing an additional 700,862 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Up 1.2 %

Shares of ADI opened at $212.40 on Friday. The firm has a market cap of $105.37 billion, a P/E ratio of 64.56, a PEG ratio of 2.41 and a beta of 1.05. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The stock’s 50 day moving average is $216.50 and its two-hundred day moving average is $221.67. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

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

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. 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 1.73%. Analog Devices’s dividend payout ratio is currently 111.85%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Piper Sandler lowered their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, 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 report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

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.