Tobam Sells 269 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Tobam lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 31.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 585 shares of the semiconductor company’s stock after selling 269 shares during the period. Tobam’s holdings in Analog Devices were worth $124,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADI. Sumitomo Mitsui Trust Group Inc. increased its stake in Analog Devices by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,655,845 shares of the semiconductor company’s stock valued at $351,801,000 after purchasing an additional 21,497 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Analog Devices during the fourth quarter valued at approximately $2,799,000. GHP Investment Advisors Inc. increased its position in shares of Analog Devices by 3.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 47,083 shares of the semiconductor company’s stock valued at $10,003,000 after acquiring an additional 1,410 shares in the last quarter. Silver Oak Securities Incorporated raised its holdings in Analog Devices by 99.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,989 shares of the semiconductor company’s stock worth $423,000 after acquiring an additional 992 shares during the last quarter. Finally, Schmidt P J Investment Management Inc. lifted its position in Analog Devices by 2.2% in the 4th quarter. Schmidt P J Investment Management Inc. now owns 34,690 shares of the semiconductor company’s stock valued at $7,370,000 after acquiring an additional 757 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Truist Financial lifted their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. TD Cowen lowered their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Barclays reduced their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Wells Fargo & Company initiated 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 on the stock. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Down 1.3 %

ADI stock opened at $205.21 on Friday. The business’s 50-day moving average price is $215.46 and its 200-day moving average price is $220.59. The stock has a market cap of $101.81 billion, a P/E ratio of 62.37, a PEG ratio of 2.43 and a beta of 1.04. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. 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 (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. On average, equities research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a yield of 1.79%. Analog Devices’s dividend payout ratio is presently 111.85%.

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.