Analog Devices, Inc. (NASDAQ:ADI) Stock Position Decreased by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,760 shares of the semiconductor company’s stock after selling 70 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Analog Devices were worth $1,224,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADI. Orion Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter worth $27,000. Menard Financial Group LLC acquired a new stake in shares of Analog Devices in the fourth quarter worth $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Analog Devices in the fourth quarter worth $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Analog Devices in the fourth quarter worth $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its position in shares of Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after buying an additional 55 shares during the period. 86.81% of the stock is owned by institutional investors.

Insider Transactions at Analog Devices

In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director now directly owns 180,071 shares in the company, valued at approximately $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,934 shares of company stock worth $8,735,156. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent analyst reports. Evercore ISI raised their target price on Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, May 23rd. Cowen reissued a “buy” rating on shares of Analog Devices in a research report on Friday, May 23rd. Piper Sandler reduced their price objective on Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Cfra Research cut Analog Devices from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen raised Analog Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.63.

Analog Devices Price Performance

NASDAQ ADI opened at $212.99 on Friday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The stock’s 50-day moving average is $198.17 and its two-hundred day moving average is $210.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The firm has a market cap of $105.70 billion, a P/E ratio of 67.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.40 earnings per share. The business’s revenue was up 22.3% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.86%. Analog Devices’s payout ratio is presently 107.90%.

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.