Campbell Newman Asset Management Inc. Sells 13,068 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Campbell Newman Asset Management Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.1% in the fourth quarter, Holdings Channel reports. The firm owned 199,442 shares of the semiconductor company’s stock after selling 13,068 shares during the quarter. Analog Devices accounts for approximately 3.4% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 5th biggest holding. Campbell Newman Asset Management Inc.’s holdings in Analog Devices were worth $42,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp increased its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Analog Devices in the third quarter worth about $43,000. Reston Wealth Management LLC acquired a new stake in shares of Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Analog Devices during the 3rd quarter valued at about $80,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction 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. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Trading Up 1.6 %

Shares of Analog Devices stock opened at $218.00 on Wednesday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The company has a market capitalization of $108.19 billion, a price-to-earnings ratio of 66.26, a P/E/G ratio of 2.47 and a beta of 1.05. The business has a fifty day simple moving average of $216.19 and a two-hundred day simple moving average of $222.69. 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 released its quarterly 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 net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm earned $2.01 EPS. The business’s revenue was down 10.1% on a year-over-year basis. Research analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADI. 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. Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company started 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, TD Cowen reduced their price objective 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 fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.48.

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.