Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 5,723 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 141,133 shares of the semiconductor company’s stock after selling 5,723 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Analog Devices were worth $20,849,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Analog Devices by 10.6% during the 3rd quarter. BlackRock Inc. now owns 30,760,256 shares of the semiconductor company’s stock worth $3,590,951,000 after buying an additional 2,946,683 shares during the last quarter. JPMorgan Chase & Co. raised its position in Analog Devices by 19.2% in the third quarter. JPMorgan Chase & Co. now owns 26,039,376 shares of the semiconductor company’s stock valued at $3,037,493,000 after purchasing an additional 4,199,225 shares during the last quarter. Neuberger Berman Group LLC raised its position in Analog Devices by 1.8% in the third quarter. Neuberger Berman Group LLC now owns 4,179,617 shares of the semiconductor company’s stock valued at $487,665,000 after purchasing an additional 73,905 shares during the last quarter. Alkeon Capital Management LLC raised its position in Analog Devices by 4.5% in the third quarter. Alkeon Capital Management LLC now owns 2,301,646 shares of the semiconductor company’s stock valued at $268,694,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Analog Devices by 1.8% in the second quarter. Nuveen Asset Management LLC now owns 1,981,258 shares of the semiconductor company’s stock valued at $242,981,000 after purchasing an additional 34,329 shares during the last quarter. Institutional investors and hedge funds own 91.90% of the company’s stock.

Several equities research analysts have recently weighed in on ADI shares. The Goldman Sachs Group increased their price target on Analog Devices from $156.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, December 14th. Royal Bank of Canada raised their target price on Analog Devices from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James raised their price objective on Analog Devices from $140.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, November 25th. Piper Sandler raised their target price on Analog Devices from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, November 25th. Finally, Oppenheimer raised their target price on Analog Devices from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, November 18th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $143.46.

In other news, Director James Champy sold 1,562 shares of Analog Devices stock in a transaction on Wednesday, January 13th. The stock was sold at an average price of $160.00, for a total value of $249,920.00. Following the completion of the transaction, the director now directly owns 8,406 shares in the company, valued at $1,344,960. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Steve Pietkiewicz sold 1,750 shares of Analog Devices stock in a transaction on Wednesday, January 6th. The shares were sold at an average price of $150.85, for a total value of $263,987.50. Following the completion of the transaction, the senior vice president now owns 30,312 shares of the company’s stock, valued at $4,572,565.20. The disclosure for this sale can be found here. Insiders sold 53,630 shares of company stock valued at $7,376,998 over the last three months. Company insiders own 0.42% of the company’s stock.

NASDAQ:ADI traded up $1.89 during trading hours on Thursday, reaching $160.37. The stock had a trading volume of 26,083 shares, compared to its average volume of 2,646,415. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.40 and a current ratio of 1.84. The stock has a 50 day simple moving average of $145.18 and a 200 day simple moving average of $126.63. Analog Devices, Inc. has a 12-month low of $79.07 and a 12-month high of $161.78. The stock has a market cap of $59.25 billion, a P/E ratio of 48.77, a price-to-earnings-growth ratio of 2.25 and a beta of 1.31.

Analog Devices (NASDAQ:ADI) last released its earnings results on Monday, November 23rd. The semiconductor company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.12. Analog Devices had a return on equity of 15.51% and a net margin of 21.79%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $1.19 earnings per share. On average, equities analysts expect that Analog Devices, Inc. will post 5.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Friday, December 4th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, December 3rd. Analog Devices’s dividend payout ratio is currently 50.51%.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. The company offers data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; high-performance amplifiers to condition analog signals; and radio frequency and microwave ICs to support cellular infrastructure.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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