Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 118,645 shares of the semiconductor company’s stock after selling 3,099 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Analog Devices were worth $25,207,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ADI. Capital Performance Advisors LLP purchased a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $28,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Financial Life Planners purchased a new stake in Analog Devices in the fourth quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new stake in Analog Devices in the third quarter valued at approximately $43,000. Finally, Reston Wealth Management LLC acquired a new position in Analog Devices during the third quarter worth $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of several research analyst reports. TD Cowen cut their price objective on 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 boosted their price target 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. Morgan Stanley lowered their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Piper Sandler decreased their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $205.21 on Monday. The stock’s 50-day simple moving average is $215.21 and its 200-day simple moving average is $220.28. The firm has a market capitalization of $101.81 billion, a PE ratio of 62.37, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. 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 data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping 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 company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company earned $2.01 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.79%. Analog Devices’s dividend payout ratio is presently 111.85%.

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.