PFG Investments LLC Cuts Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

PFG Investments LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,588 shares of the semiconductor company’s stock after selling 90 shares during the quarter. PFG Investments LLC’s holdings in Analog Devices were worth $550,000 at the end of the most recent reporting period.

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

Analog Devices Stock Up 0.2 %

Shares of NASDAQ:ADI opened at $209.91 on Thursday. The firm has a fifty day moving average of $216.52 and a 200 day moving average of $221.75. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. 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 firm has a market capitalization of $104.15 billion, a PE ratio of 63.80, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

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

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analyst Ratings Changes

A number of research analysts have recently commented on ADI shares. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley cut their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, TD Cowen reduced their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned 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 target price of $248.70.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following 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 transaction 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 company’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 value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock worth $11,029,300. 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.