Wendell David Associates Inc. Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Wendell David Associates Inc. lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,146 shares of the semiconductor company’s stock after selling 690 shares during the quarter. Wendell David Associates Inc.’s holdings in Analog Devices were worth $3,005,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Analog Devices in the third quarter worth approximately $28,000. Archer Investment Corp lifted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Analog Devices during the 3rd quarter worth $43,000. Reston Wealth Management LLC acquired a new stake in shares of Analog Devices during the 3rd quarter worth about $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Analog Devices in the 3rd quarter valued at about $80,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $224.08 on Thursday. The stock has a 50 day moving average of $215.66 and a two-hundred day moving average of $222.33. The stock has a market cap of $111.18 billion, a P/E ratio of 68.11, a P/E/G ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period last year, the firm posted $2.01 EPS. On average, research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Buying and Selling

In other news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $11,029,300 over the last three months. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.70.

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.