Parsons Capital Management Inc. RI Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Parsons Capital Management Inc. RI lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 42.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,374 shares of the semiconductor company’s stock after selling 1,002 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Analog Devices were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ADI. Grove Bank & Trust lifted its stake in Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after acquiring an additional 43 shares during the period. Quotient Wealth Partners LLC raised its holdings in Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after buying an additional 48 shares during the last quarter. Bank of Hawaii lifted its stake in shares of Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after buying an additional 50 shares during the last quarter. Finally, DT Investment Partners LLC increased its position in shares of Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after acquiring an additional 51 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADI. Barclays lowered their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial raised their target price 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. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Finally, TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Price Performance

ADI stock opened at $209.52 on Wednesday. The company has a market capitalization of $103.95 billion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The company’s fifty day moving average price is $216.54 and its 200-day moving average price is $221.96. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

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

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.76%. Analog Devices’s dividend payout ratio (DPR) is 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.