SeaCrest Wealth Management LLC Sells 55 Shares of Analog Devices, Inc. (NASDAQ:ADI)

SeaCrest Wealth Management LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,533 shares of the semiconductor company’s stock after selling 55 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Analog Devices were worth $326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in Analog Devices in the 3rd quarter worth $28,000. Archer Investment Corp lifted its position in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Analog Devices during the third quarter valued at approximately $43,000. Reston Wealth Management LLC purchased a new position in Analog Devices during the 3rd quarter valued at approximately $48,000. Finally, Northwest Investment Counselors LLC bought a new stake in Analog Devices in the 3rd quarter worth approximately $80,000. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $219.16 on Friday. 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 market capitalization of $108.74 billion, a PE ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. The company has a 50 day moving average price of $215.78 and a 200-day moving average price of $222.60. 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 issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS. As a group, equities analysts forecast 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. Stockholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.68%. Analog Devices’s payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays cut their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a 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 for the company in a report on Wednesday, November 27th. Truist Financial boosted their price objective on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, Morgan Stanley lowered their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.57.

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.