Patriot Investment Management Group Inc. Trims Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Patriot Investment Management Group Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,825 shares of the semiconductor company’s stock after selling 86 shares during the period. Patriot Investment Management Group Inc.’s holdings in Analog Devices were worth $570,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Midwest Professional Planners LTD. raised its stake in shares of Analog Devices by 0.6% in the 4th quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company’s stock valued at $1,975,000 after acquiring an additional 53 shares during the period. Portland Global Advisors LLC raised its stake in shares of Analog Devices by 1.3% in the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company’s stock valued at $853,000 after acquiring an additional 53 shares during the period. NTV Asset Management LLC raised its stake in shares of Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after acquiring an additional 54 shares during the period. Cassady Schiller Wealth Management LLC raised its stake in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Analog Devices by 1.3% in the 4th quarter. Lindbrook Capital LLC now owns 5,243 shares of the semiconductor company’s stock valued at $1,114,000 after acquiring an additional 65 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $210.00, for a total transaction 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 approximately $9,066,750. This represents a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total transaction of $563,156.25. Following the completion of the sale, the director now owns 186,321 shares of the company’s stock, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,934 shares of company stock worth $6,643,956 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADI. TD Cowen lifted their price objective on shares of Analog Devices from $200.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 23rd. UBS Group dropped their price objective on shares of Analog Devices from $295.00 to $285.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Evercore ISI lifted their price objective on shares of Analog Devices from $231.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Finally, Piper Sandler dropped their price objective on shares of Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $248.63.

Analog Devices Trading Down 0.2%

Shares of Analog Devices stock opened at $232.12 on Friday. The company has a fifty day simple moving average of $203.77 and a 200-day simple moving average of $210.75. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The stock has a market cap of $115.19 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 2.85 and a beta of 1.00.

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

Analog Devices announced that its board has approved a stock buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, June 4th. Analog Devices’s dividend payout ratio is currently 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.