Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 15.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,220 shares of the semiconductor company’s stock after selling 394 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Analog Devices were worth $448,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADI. Orion Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at $27,000. Menard Financial Group LLC purchased a new position in Analog Devices in the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management purchased a new position in Analog Devices in the 1st quarter worth approximately $27,000. North Capital Inc. purchased a new position in Analog Devices in the 1st quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC boosted its holdings in Analog Devices by 209.8% in the 1st quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the sale, the director directly owned 180,071 shares of the company’s stock, valued at $35,265,104.64. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

ADI stock opened at $240.42 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The firm has a market cap of $119.31 billion, a P/E ratio of 65.51, a P/E/G ratio of 2.24 and a beta of 1.02. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The stock’s 50 day simple moving average is $227.83 and its 200 day simple moving average is $214.09.

Analog Devices (NASDAQ:ADI) last posted its quarterly 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. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices’s dividend payout ratio is currently 107.90%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADI. KGI Securities began coverage on Analog Devices in a report on Friday, May 23rd. They issued a “buy” rating for the company. Evercore ISI upped their price target on Analog Devices from $231.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. Piper Sandler decreased their price target on Analog Devices from $240.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. TD Cowen upped their price target on Analog Devices from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Cowen restated a “buy” rating on shares of Analog Devices in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $257.67.

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.