Lathrop Investment Management Corp Has $17.22 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Lathrop Investment Management Corp cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 86,715 shares of the semiconductor company’s stock after selling 3,037 shares during the quarter. Analog Devices comprises 3.5% of Lathrop Investment Management Corp’s holdings, making the stock its 7th biggest position. Lathrop Investment Management Corp’s holdings in Analog Devices were worth $17,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Amarillo National Bank grew its position in Analog Devices by 3.7% during the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock worth $300,000 after buying an additional 54 shares in the last quarter. Keystone Financial Services lifted its stake in Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock worth $623,000 after purchasing an additional 55 shares during the period. Ancora Advisors LLC lifted its stake in Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 57 shares during the period. Legacy Advisors LLC lifted its stake in Analog Devices by 2.3% during the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 59 shares during the period. Finally, MRA Advisory Group lifted its stake in Analog Devices by 2.5% during the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 61 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated 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 this link. In related news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,134,982.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ADI. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a research note on Thursday, January 18th. Truist Financial cut their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Barclays lifted their target price on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a research note on Monday, March 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Stock Up 2.0 %

NASDAQ:ADI traded up $4.03 on Friday, hitting $201.97. 3,136,261 shares of the company’s stock were exchanged, compared to its average volume of 3,090,032. The firm has a 50-day moving average price of $193.45 and a 200-day moving average price of $187.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The company has a market cap of $100.16 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 4.97 and a beta of 1.17.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 EPS. As a group, analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 1.82%. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

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.