Bourgeon Capital Management LLC Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Bourgeon Capital Management LLC cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,059 shares of the semiconductor company’s stock after selling 151 shares during the period. Bourgeon Capital Management LLC’s holdings in Analog Devices were worth $2,137,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp boosted its holdings in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Analog Devices during the third quarter valued at about $43,000. Reston Wealth Management LLC acquired a new stake in Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Analog Devices in the 3rd quarter worth about $80,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $221.45 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company has a market capitalization of $109.87 billion, a PE ratio of 67.31, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. The stock has a fifty day moving average of $215.62 and a 200-day moving average of $222.39. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.01 earnings per share. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now 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 have sold 50,000 shares of company stock worth $11,029,300 over the last 90 days. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Truist Financial raised their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. 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. Finally, Barclays cut their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

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.