Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,957 shares of the semiconductor company’s stock after selling 245 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Analog Devices were worth $1,691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI purchased a new stake in shares of Analog Devices during the second quarter worth about $402,000. Edgestream Partners L.P. acquired a new position in Analog Devices in the 2nd quarter valued at $618,000. XTX Topco Ltd purchased a new position in shares of Analog Devices during the 2nd quarter worth $2,189,000. MQS Management LLC boosted its holdings in shares of Analog Devices by 32.4% during the second quarter. MQS Management LLC now owns 3,459 shares of the semiconductor company’s stock worth $790,000 after purchasing an additional 846 shares during the last quarter. Finally, Delaney Dennis R grew its position in shares of Analog Devices by 0.6% in the second quarter. Delaney Dennis R now owns 30,925 shares of the semiconductor company’s stock valued at $7,059,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Down 1.5 %

Shares of NASDAQ:ADI opened at $215.02 on Friday. The company has a market capitalization of $106.71 billion, a price-to-earnings ratio of 65.36, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. The company has a 50 day moving average of $216.03 and a two-hundred day moving average of $222.66. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

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. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the business earned $2.01 EPS. As a group, analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 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 on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 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 represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $11,029,300 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ADI shares. Wells Fargo & Company started coverage on Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. 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 research report on Friday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.48.

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.