Valmark Advisers Inc. Sells 53 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Valmark Advisers Inc. decreased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,033 shares of the semiconductor company’s stock after selling 53 shares during the period. Valmark Advisers Inc.’s holdings in Analog Devices were worth $1,595,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Amarillo National Bank grew its position in Analog Devices by 3.7% in the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares in the last quarter. Keystone Financial Services lifted its stake in Analog Devices by 1.8% in the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 55 shares during the last quarter. Ancora Advisors LLC lifted its stake in Analog Devices by 2.1% in the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 57 shares during the last quarter. Legacy Advisors LLC lifted its stake in Analog Devices by 2.3% in the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after acquiring an additional 59 shares during the last quarter. Finally, MRA Advisory Group lifted its stake in Analog Devices by 2.5% in the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Insider Activity

In other news, Director James Champy sold 1,228 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,707 shares of company stock valued at $4,825,113. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ADI shares. KeyCorp raised their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Evercore ISI started coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price for the company. Oppenheimer restated an “outperform” rating and set a $215.00 target price on shares of Analog Devices in a research note on Thursday, February 22nd. Truist Financial dropped their price objective 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. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Price Performance

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

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $2.75 earnings per share. The company’s revenue was down 22.7% on a year-over-year basis. On average, sell-side 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. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.82%. Analog Devices’s dividend payout ratio is presently 65.83%.

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.