Sterling Investment Counsel LLC Buys 4,020 Shares of Analog Devices, Inc. $ADI

Sterling Investment Counsel LLC raised its stake in Analog Devices, Inc. (NASDAQ:ADI) by 443.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,926 shares of the semiconductor company’s stock after purchasing an additional 4,020 shares during the period. Sterling Investment Counsel LLC’s holdings in Analog Devices were worth $1,210,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Howard Hughes Medical Institute bought a new position in Analog Devices in the 2nd quarter valued at about $25,000. RMG Wealth Management LLC acquired a new position in shares of Analog Devices in the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new position in shares of Analog Devices during the third quarter worth approximately $31,000. Sound Income Strategies LLC lifted its holdings in Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares during the last quarter. Finally, Nova Wealth Management Inc. bought a new stake in Analog Devices in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Martin Cotter sold 5,000 shares of Analog Devices stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $271.19, for a total value of $1,355,950.00. Following the completion of the transaction, the senior vice president owned 59,664 shares in the company, valued at $16,180,280.16. This trade represents a 7.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the sale, the director owned 5,118 shares in the company, valued at $1,242,343.32. The trade was a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,419 shares of company stock worth $7,811,917 in the last ninety days. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Down 1.3%

Shares of ADI stock opened at $271.20 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The firm has a market cap of $132.79 billion, a P/E ratio of 59.47, a PEG ratio of 1.50 and a beta of 1.03. The company has a 50 day moving average of $256.36 and a 200-day moving average of $245.36. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $284.23.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the company earned $1.67 earnings per share. Analog Devices’s revenue was up 25.9% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.99 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.5%. Analog Devices’s dividend payout ratio (DPR) is 86.84%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ADI shares. Robert W. Baird increased their price objective on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. BNP Paribas Exane began coverage on shares of Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target for the company. UBS Group increased their price target on Analog Devices from $280.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Stifel Nicolaus set a $280.00 price objective on Analog Devices in a research note on Friday, November 21st. Finally, Truist Financial boosted their price objective on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a report on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $287.22.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.