Beacon Investment Advisory Services Inc. Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

Beacon Investment Advisory Services Inc. lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 188,748 shares of the semiconductor company’s stock after selling 7,490 shares during the period. Analog Devices makes up about 1.7% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 13th biggest holding. Beacon Investment Advisory Services Inc.’s holdings in Analog Devices were worth $40,101,000 at the end of the most recent reporting period.

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

Analog Devices Stock Performance

Shares of ADI stock opened at $224.08 on Thursday. The stock’s 50-day moving average is $215.88 and its two-hundred day moving average is $222.34. 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, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The firm has a market cap of $111.18 billion, a price-to-earnings ratio of 68.11, a PEG ratio of 2.54 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for 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 quarter last year, the business posted $2.01 EPS. Analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current 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 given 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 1.64%. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Analysts Set New Price Targets

ADI has been the topic of a number of research reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial increased their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Finally, TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $248.70.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $11,029,300 in the last 90 days. Company insiders own 0.31% of the company’s stock.

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.