Claro Advisors LLC Cuts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Claro Advisors LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 5.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,385 shares of the semiconductor company’s stock after selling 342 shares during the quarter. Claro Advisors LLC’s holdings in Analog Devices were worth $1,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the 3rd quarter worth $28,000. Archer Investment Corp boosted its position in shares of Analog Devices by 101.4% during the 3rd 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. acquired a new position in shares of Analog Devices during the 3rd quarter valued at about $43,000. Reston Wealth Management LLC acquired a new position in shares of Analog Devices during the 3rd quarter valued at about $48,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Analog Devices during the 3rd quarter valued at about $80,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of several recent research reports. Morgan Stanley lowered 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 report on Wednesday, November 27th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Truist Financial boosted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.48.

Analog Devices Stock Up 0.2 %

Shares of ADI stock traded up $0.42 during trading hours on Monday, reaching $212.79. 1,630,113 shares of the stock were exchanged, compared to its average volume of 2,818,722. The business’s fifty day moving average is $216.48 and its two-hundred day moving average is $222.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The firm has a market capitalization of $105.61 billion, a P/E ratio of 64.68, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The firm 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%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.01 earnings per share. As a group, research analysts expect that Analog Devices, Inc. will post 7.15 EPS 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 1.73%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, 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 50,000 shares of company stock valued at $11,029,300 over the last three months. 0.31% of the stock is owned by corporate insiders.

About Analog Devices

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.