Raymond James & Associates Sells 18,292 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Raymond James & Associates decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 851,264 shares of the semiconductor company’s stock after selling 18,292 shares during the period. Raymond James & Associates’ holdings in Analog Devices were worth $168,371,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. CTC Alternative Strategies Ltd. bought a new stake in shares of Analog Devices in the 4th quarter valued at $1,152,000. Sequoia Financial Advisors LLC raised its holdings in shares of Analog Devices by 107.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after purchasing an additional 2,215 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Analog Devices by 4.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after buying an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Analog Devices by 31.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after buying an additional 89,504 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI traded up $1.93 during trading on Monday, reaching $203.90. The company’s stock had a trading volume of 2,288,168 shares, compared to its average volume of 3,380,605. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The firm has a market cap of $101.12 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 5.07 and a beta of 1.17. The firm has a 50 day moving average of $193.76 and a 200-day moving average of $187.66. 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 issued its quarterly 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 company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $2.75 EPS. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 5.86 EPS 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 dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.80%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Insider Activity at Analog Devices

In other Analog Devices 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 transaction of $687,311.24. Following the sale, the executive vice president now directly 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 SEC, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,707 shares of company stock worth $4,825,113. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ADI. Truist Financial reduced their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. The Goldman Sachs Group boosted their price target 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. Barclays upped their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and fourteen have assigned 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 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.