Peoples Bank KS Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Peoples Bank KS trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,960 shares of the semiconductor company’s stock after selling 135 shares during the quarter. Peoples Bank KS’s holdings in Analog Devices were worth $1,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortem Financial Group LLC boosted its stake in shares of Analog Devices by 1.8% in the fourth quarter. Fortem Financial Group LLC now owns 6,397 shares of the semiconductor company’s stock worth $1,359,000 after buying an additional 116 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Analog Devices by 38.9% in the fourth quarter. CWA Asset Management Group LLC now owns 4,441 shares of the semiconductor company’s stock valued at $944,000 after acquiring an additional 1,244 shares during the period. Nordea Investment Management AB lifted its holdings in Analog Devices by 4.5% in the fourth quarter. Nordea Investment Management AB now owns 43,967 shares of the semiconductor company’s stock valued at $9,381,000 after acquiring an additional 1,893 shares during the period. Central Pacific Bank Trust Division boosted its position in Analog Devices by 5.9% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,346 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 75 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Analog Devices by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 8,653 shares of the semiconductor company’s stock worth $1,838,000 after purchasing an additional 416 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Down 1.0 %

ADI stock opened at $215.87 on Wednesday. The company has a market cap of $107.14 billion, a price-to-earnings ratio of 65.61, a PEG ratio of 2.47 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The firm has a 50-day moving average of $216.99 and a two-hundred day moving average of $223.12.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business earned $2.01 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared 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 1.70%. Analog Devices’s dividend payout ratio is presently 111.85%.

Analysts Set New Price Targets

Several research firms recently issued reports on ADI. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Truist Financial dropped their target price on Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. 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 report on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $249.33.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 in the last quarter. Company insiders own 0.31% of the company’s stock.

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.