Cumberland Partners Ltd Trims Position in Analog Devices, Inc. (NASDAQ:ADI)

Cumberland Partners Ltd reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,560 shares of the semiconductor company’s stock after selling 1,280 shares during the period. Analog Devices makes up approximately 1.4% of Cumberland Partners Ltd’s portfolio, making the stock its 22nd largest position. Cumberland Partners Ltd’s holdings in Analog Devices were worth $16,195,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ADI. International Assets Investment Management LLC raised its holdings in Analog Devices by 1.7% during the third quarter. International Assets Investment Management LLC now owns 4,534 shares of the semiconductor company’s stock worth $784,000 after purchasing an additional 75 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in Analog Devices by 4.2% during the third quarter. Arkadios Wealth Advisors now owns 1,943 shares of the semiconductor company’s stock worth $340,000 after purchasing an additional 78 shares in the last quarter. Montecito Bank & Trust raised its holdings in Analog Devices by 13.1% during the third quarter. Montecito Bank & Trust now owns 1,767 shares of the semiconductor company’s stock worth $309,000 after purchasing an additional 204 shares in the last quarter. Ellenbecker Investment Group purchased a new position in Analog Devices during the third quarter worth about $271,000. Finally, Romano Brothers AND Company purchased a new position in Analog Devices during the third quarter worth about $259,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,825,113 in the last quarter. 0.31% of the stock is owned by insiders.

Analog Devices Trading Up 1.9 %

NASDAQ ADI traded up $3.62 during mid-day trading on Tuesday, reaching $189.93. 4,175,059 shares of the stock were exchanged, compared to its average volume of 3,358,335. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $204.20. The business’s fifty day simple moving average is $192.77 and its 200 day simple moving average is $186.93. The stock has a market capitalization of $94.19 billion, a PE ratio of 33.98, a PEG ratio of 4.60 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.75 earnings per share. On average, research analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ADI shares. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price for the company. in a report on Thursday, January 4th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price for the company in a report on Thursday, January 18th. Truist Financial dropped their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Evercore ISI started coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

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.