Tobam Reduces Stake in Analog Devices, Inc. (NASDAQ:ADI)

Tobam lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 31.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 585 shares of the semiconductor company’s stock after selling 269 shares during the quarter. Tobam’s holdings in Analog Devices were worth $124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Atomi Financial Group Inc. raised its position in shares of Analog Devices by 14.1% in the third quarter. Atomi Financial Group Inc. now owns 2,184 shares of the semiconductor company’s stock worth $503,000 after buying an additional 270 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Analog Devices by 6.6% in the 3rd quarter. Wedmont Private Capital now owns 4,323 shares of the semiconductor company’s stock valued at $979,000 after acquiring an additional 269 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its position in shares of Analog Devices by 8.2% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 2,423 shares of the semiconductor company’s stock valued at $558,000 after acquiring an additional 183 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Analog Devices by 1.1% during the third quarter. UMB Bank n.a. now owns 11,216 shares of the semiconductor company’s stock worth $2,582,000 after purchasing an additional 122 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its position in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ADI shares. Piper Sandler cut 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. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, TD Cowen decreased their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Down 1.3 %

NASDAQ ADI opened at $205.21 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The stock has a market capitalization of $101.81 billion, a PE ratio of 62.37, a PEG ratio of 2.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The business’s 50-day moving average is $215.46 and its 200 day moving average is $220.59.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) 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 firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. Sell-side analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This represents 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 at this link. 0.33% of the stock is owned by corporate insiders.

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.