Twin Capital Management Inc. Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Twin Capital Management Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 85.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,809 shares of the semiconductor company’s stock after selling 10,333 shares during the period. Twin Capital Management Inc.’s holdings in Analog Devices were worth $359,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CTC Alternative Strategies Ltd. purchased a new position in Analog Devices in the fourth quarter valued at about $1,152,000. Sequoia Financial Advisors LLC grew its stake in Analog Devices by 107.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in Analog Devices by 37.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Analog Devices by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Analog Devices by 31.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after purchasing an additional 89,504 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 2.2 %

Shares of NASDAQ:ADI opened at $183.36 on Friday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $204.20. The company has a market capitalization of $90.93 billion, a PE ratio of 32.80, a PEG ratio of 4.75 and a beta of 1.17. The business has a 50 day moving average of $192.82 and a two-hundred day moving average of $186.53. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.75 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.01%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADI has been the topic of several analyst reports. Evercore ISI initiated coverage on Analog Devices in a research note on Tuesday. They issued an “outperform” rating and a $254.00 target price on the stock. The Goldman Sachs Group boosted their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research note on Thursday, January 18th. Oppenheimer restated an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. Finally, KeyCorp boosted their price target on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

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.