Sonora Investment Management Group LLC Sells 1,298 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Sonora Investment Management Group LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 55.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,050 shares of the semiconductor company’s stock after selling 1,298 shares during the period. Sonora Investment Management Group LLC’s holdings in Analog Devices were worth $223,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Oak Harvest Investment Services raised its position in shares of Analog Devices by 13.6% during the fourth quarter. Oak Harvest Investment Services now owns 35,604 shares of the semiconductor company’s stock worth $7,564,000 after acquiring an additional 4,269 shares during the last quarter. Crews Bank & Trust acquired a new stake in Analog Devices in the fourth quarter valued at approximately $50,000. OLD National Bancorp IN grew its stake in Analog Devices by 6.8% in the fourth quarter. OLD National Bancorp IN now owns 14,607 shares of the semiconductor company’s stock valued at $3,103,000 after acquiring an additional 930 shares during the period. Synergy Asset Management LLC grew its stake in Analog Devices by 11.1% in the fourth quarter. Synergy Asset Management LLC now owns 25,569 shares of the semiconductor company’s stock valued at $5,404,000 after acquiring an additional 2,554 shares during the period. Finally, Baron Wealth Management LLC grew its stake in Analog Devices by 8.3% in the fourth quarter. Baron Wealth Management LLC now owns 5,237 shares of the semiconductor company’s stock valued at $1,113,000 after acquiring an additional 403 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Analog Devices Trading Down 0.2 %

Shares of ADI stock opened at $211.89 on Friday. The stock has a market capitalization of $105.12 billion, a PE ratio of 64.40, a P/E/G ratio of 2.41 and a beta of 1.05. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The business has a 50-day moving average of $216.48 and a 200 day moving average of $221.61. 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 (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business posted $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Finally, TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research 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. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $248.70.

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.