Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Doheny Asset Management CA

Doheny Asset Management CA cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,048 shares of the semiconductor company’s stock after selling 1,765 shares during the quarter. Doheny Asset Management CA’s holdings in Analog Devices were worth $804,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ADI. Pinnacle Bancorp Inc. increased its position in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of Analog Devices during the third quarter worth about $29,000. Cetera Trust Company N.A purchased a new stake in shares of Analog Devices during the fourth quarter worth about $29,000. Northwest Capital Management Inc increased its position in shares of Analog Devices by 519.2% during the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 135 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Analog Devices during the fourth quarter worth about $32,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of analyst reports. Truist Financial dropped their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Barclays boosted their price objective on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Finally, Sanford C. Bernstein downgraded Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price for the company. in a research note on Thursday, January 4th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Stock Up 0.9 %

NASDAQ:ADI traded up $1.81 during trading hours on Thursday, reaching $195.70. The company’s stock had a trading volume of 1,087,060 shares, compared to its average volume of 3,346,922. The company has a market cap of $97.05 billion, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 5.03 and a beta of 1.14. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. The business’s 50-day moving average is $193.99 and its 200-day moving average is $187.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.75 earnings per share. Equities research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.88%. Analog Devices’s dividend payout ratio is currently 65.83%.

Insider Buying and Selling

In related news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction 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 owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,707 shares of company stock worth $2,904,013. Corporate insiders own 0.31% of the company’s stock.

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.