Mattern Wealth Management LLC Decreases Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Mattern Wealth Management LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,166 shares of the semiconductor company’s stock after selling 1,203 shares during the quarter. Mattern Wealth Management LLC’s holdings in Analog Devices were worth $2,372,000 as of its most recent SEC filing.

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

Analog Devices Price Performance

Shares of ADI opened at $215.42 on Tuesday. The firm has a fifty day moving average price of $216.42 and a 200 day moving average price of $222.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The stock has a market cap of $106.88 billion, a PE ratio of 65.48, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

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

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Analyst Ratings Changes

Several research analysts have weighed in on ADI shares. TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note 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 for the company in a research note on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Activity at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $11,029,300 in the last quarter. Company insiders own 0.31% of the company’s stock.

Analog Devices Company 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.