Claro Advisors LLC Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Claro Advisors LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,385 shares of the semiconductor company’s stock after selling 342 shares during the period. Claro Advisors LLC’s holdings in Analog Devices were worth $1,357,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Analog Devices by 1.6% in the second quarter. Federated Hermes Inc. now owns 32,016 shares of the semiconductor company’s stock worth $7,308,000 after purchasing an additional 495 shares during the last quarter. 1ST Source Bank lifted its stake in Analog Devices by 3.1% in the second quarter. 1ST Source Bank now owns 1,809 shares of the semiconductor company’s stock worth $413,000 after acquiring an additional 55 shares during the period. Fiduciary Group LLC lifted its stake in Analog Devices by 32.9% in the second quarter. Fiduciary Group LLC now owns 2,829 shares of the semiconductor company’s stock worth $646,000 after acquiring an additional 701 shares during the period. Dai ichi Life Insurance Company Ltd lifted its stake in Analog Devices by 5.2% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 22,884 shares of the semiconductor company’s stock worth $5,224,000 after acquiring an additional 1,124 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Analog Devices by 8.4% in the second quarter. Parallel Advisors LLC now owns 17,121 shares of the semiconductor company’s stock worth $3,908,000 after acquiring an additional 1,328 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Finally, Truist Financial raised their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.48.

Analog Devices Stock Up 0.2 %

Shares of NASDAQ:ADI traded up $0.42 during trading on Monday, reaching $212.79. The stock had a trading volume of 1,630,113 shares, compared to its average volume of 2,818,722. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The company has a market capitalization of $105.61 billion, a P/E ratio of 64.68, 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. The firm’s 50-day simple moving average is $216.48 and its 200 day simple moving average is $222.88.

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 analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $2.01 EPS. The company’s revenue was down 10.1% compared to the same quarter last year. As a group, research analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors 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 1.73%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $11,029,300 in the last three months. Corporate insiders own 0.31% of the company’s stock.

About Analog Devices

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.