Davidson Investment Advisors Sells 7,655 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Davidson Investment Advisors lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,341 shares of the semiconductor company’s stock after selling 7,655 shares during the period. Davidson Investment Advisors’ holdings in Analog Devices were worth $19,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after buying an additional 39,186 shares during the last quarter. Swiss National Bank boosted its stake in shares of Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp purchased a new stake in shares of Analog Devices in the 4th quarter valued at $460,000. Finally, Summit Global Investments purchased a new stake in Analog Devices during the 3rd quarter valued at $867,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $214.61 on Tuesday. The company has a 50 day moving average price of $214.04 and a 200-day moving average price of $219.59. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The firm has a market capitalization of $106.47 billion, a PE ratio of 65.23, a P/E/G ratio of 2.38 and a beta of 1.04. 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 data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion for 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 firm’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 earnings per share. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays dropped 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 report on Friday, January 17th. Wells Fargo & Company started coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. TD Cowen decreased their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Benchmark started coverage on shares of Analog Devices in a research note on Friday. They issued a “buy” rating and a $245.00 price target for the company. Finally, Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $248.52.

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.