Csenge Advisory Group Lowers Position in Analog Devices, Inc. (NASDAQ:ADI)

Csenge Advisory Group reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.9% in the 1st quarter, HoldingsChannel reports. The firm owned 1,803 shares of the semiconductor company’s stock after selling 243 shares during the period. Csenge Advisory Group’s holdings in Analog Devices were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its stake in shares of Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 65 shares in the last quarter. USA Financial Formulas raised its stake in shares of Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the last quarter. Cetera Trust Company N.A purchased a new stake in shares of Analog Devices in the 4th quarter worth about $29,000. Private Wealth Management Group LLC acquired a new stake in Analog Devices in the 4th quarter valued at about $29,000. Finally, Riverview Trust Co purchased a new position in Analog Devices during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ADI. The Goldman Sachs Group upped their price target on shares of Analog Devices from $205.00 to $252.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Evercore ISI started coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price on the stock. Truist Financial boosted their price target on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. increased their price objective on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer boosted their target price on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Analog Devices Price Performance

ADI stock opened at $233.74 on Friday. The company has a market cap of $115.99 billion, a PE ratio of 54.61, a price-to-earnings-growth ratio of 4.02 and a beta of 1.08. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $226.41 and a two-hundred day moving average price of $204.77. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $241.88.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. During the same quarter in the previous year, the business earned $2.83 EPS. The company’s revenue for the quarter was down 33.8% on a year-over-year basis. As a group, research analysts predict that Analog Devices, Inc. will post 6.24 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, June 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.57%. Analog Devices’s dividend payout ratio (DPR) is 85.98%.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 17,612 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now directly owns 69,241 shares in the company, valued at $16,198,239.54. The disclosure for this sale can be found here. In the last three months, insiders sold 46,642 shares of company stock worth $10,481,343. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Company 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.