Foresight Global Investors Inc. Sells 2,109 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Foresight Global Investors Inc. lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 24.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,426 shares of the semiconductor company’s stock after selling 2,109 shares during the quarter. Analog Devices accounts for approximately 0.7% of Foresight Global Investors Inc.’s portfolio, making the stock its 22nd largest holding. Foresight Global Investors Inc.’s holdings in Analog Devices were worth $1,276,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ADI. Pinnacle Bancorp Inc. lifted its stake in Analog Devices by 101.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the last quarter. Cetera Trust Company N.A bought a new stake in shares of Analog Devices in the 4th quarter valued at about $29,000. Stuart Chaussee & Associates Inc. purchased a new stake in Analog Devices during the 4th quarter valued at about $32,000. Northwest Capital Management Inc grew its position in Analog Devices by 519.2% during the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 135 shares during the last quarter. Finally, Silver Oak Securities Incorporated purchased a new position in Analog Devices in the 3rd quarter worth approximately $29,000. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group increased their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Oppenheimer restated an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. KeyCorp increased their price objective on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, Evercore ISI started coverage on Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $208.17.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the company’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 transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of 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 available through this link. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,874,613 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Down 0.0 %

ADI stock traded down $0.07 on Thursday, reaching $204.79. 2,941,773 shares of the company traded hands, compared to its average volume of 3,326,513. 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 firm has a fifty day simple moving average of $195.19 and a 200-day simple moving average of $189.00. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $205.77. The company has a market cap of $101.56 billion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 5.01 and a beta of 1.14.

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

Analog Devices Increases Dividend

The company 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 a boost 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 1.80%. 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.