Davidson Investment Advisors Has $19.19 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Davidson Investment Advisors cut its position in Analog Devices, Inc. (NASDAQ:ADI) by 7.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,341 shares of the semiconductor company’s stock after selling 7,655 shares during the quarter. Davidson Investment Advisors’ holdings in Analog Devices were worth $19,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Financial Life Planners acquired a new position in shares of Analog Devices during the fourth quarter worth $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the third quarter worth $43,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Analog Devices during the fourth quarter worth $41,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen cut their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Truist Financial lifted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Benchmark started coverage on shares of Analog Devices in a research note on Friday. They set a “buy” rating and a $245.00 target price for the company. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Finally, Morgan Stanley lowered their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.52.

Analog Devices Stock Up 2.5 %

Analog Devices stock opened at $214.61 on Tuesday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The stock has a market cap of $106.47 billion, a PE ratio of 65.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. The firm’s 50-day simple moving average is $214.04 and its 200 day simple moving average is $219.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84.

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, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 earnings per share. Research analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a 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 at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.