Integrated Advisors Network LLC Sells 17,820 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Integrated Advisors Network LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 85.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,916 shares of the semiconductor company’s stock after selling 17,820 shares during the quarter. Integrated Advisors Network LLC’s holdings in Analog Devices were worth $579,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Analog Devices in the 4th quarter worth $1,225,227,000. Massachusetts Financial Services Co. MA increased its holdings in Analog Devices by 8.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,065,652 shares of the semiconductor company’s stock worth $2,991,436,000 after buying an additional 1,197,215 shares in the last quarter. International Assets Investment Management LLC raised its position in Analog Devices by 20,527.8% in the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after buying an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt lifted its stake in Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after acquiring an additional 775,000 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Analog Devices by 2,722.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 658,899 shares of the semiconductor company’s stock valued at $130,831,000 after acquiring an additional 635,554 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADI. Morgan Stanley boosted their price objective on shares of Analog Devices from $221.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Jefferies Financial Group began coverage on Analog Devices in a research report on Monday, May 13th. They set a “buy” rating and a $250.00 price objective for the company. Robert W. Baird boosted their price target on Analog Devices from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Barclays boosted their target price on shares of Analog Devices from $185.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Finally, Truist Financial boosted their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

Analog Devices Stock Up 0.5 %

Shares of NASDAQ:ADI opened at $232.39 on Tuesday. The business’s 50 day moving average is $213.34 and its 200 day moving average is $199.89. The stock has a market cap of $115.32 billion, a P/E ratio of 54.30, a price-to-earnings-growth ratio of 3.90 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $241.88.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company earned $2.83 earnings per share. The business’s quarterly revenue was down 33.8% compared to the same quarter last year. Sell-side analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.58%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Buying and Selling

In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the sale, the chief accounting officer now owns 10,547 shares in the company, valued at approximately $2,495,209.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,349 shares of company stock worth $11,118,356. 0.31% of the stock is owned by company 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.