Welch & Forbes LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

Welch & Forbes LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,995 shares of the semiconductor company’s stock after selling 630 shares during the period. Welch & Forbes LLC’s holdings in Analog Devices were worth $5,757,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. increased its holdings in Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated purchased a new stake in shares of Analog Devices in the third quarter worth $29,000. Cetera Trust Company N.A bought a new stake in Analog Devices during the fourth quarter valued at $29,000. Northwest Capital Management Inc grew its position in Analog Devices by 519.2% during the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after buying an additional 135 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Analog Devices in the 4th quarter valued at about $32,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction 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 transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at $10,057,745.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The stock was 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 in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI traded up $0.25 during midday trading on Tuesday, reaching $203.57. 3,276,572 shares of the company traded hands, compared to its average volume of 3,340,682. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The company has a fifty day moving average price of $194.85 and a 200 day moving average price of $188.89. The firm has a market capitalization of $100.95 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 5.01 and a beta of 1.14. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $205.77.

Analog Devices (NASDAQ:ADI) last released 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. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.75 earnings per share. On average, analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.81%. Analog Devices’s payout ratio is currently 65.83%.

Wall Street Analyst Weigh In

A number of research firms have commented on ADI. KeyCorp boosted their price target 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. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a research note on Thursday, January 18th. Barclays lifted their price target on shares of Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group lifted their price target on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Truist Financial lowered their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

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.