Thurston Springer Miller Herd & Titak Inc. Trims Stock Position in Analog Devices, Inc. $ADI

Thurston Springer Miller Herd & Titak Inc. decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 92.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,250 shares of the semiconductor company’s stock after selling 16,160 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Analog Devices were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new position in Analog Devices in the second quarter valued at approximately $25,000. RMG Wealth Management LLC purchased a new position in shares of Analog Devices during the 2nd quarter valued at approximately $26,000. Activest Wealth Management lifted its stake in shares of Analog Devices by 6,350.0% in the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. Access Investment Management LLC purchased a new stake in Analog Devices during the second quarter worth $45,000. Finally, Saudi Central Bank acquired a new stake in Analog Devices during the first quarter valued at $39,000. 86.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADI has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Piper Sandler set a $290.00 price target on Analog Devices in a research note on Tuesday, November 25th. Wells Fargo & Company upped their price target on Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Barclays raised their price objective on Analog Devices from $185.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, August 21st. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.78.

Insider Buying and Selling at Analog Devices

In related news, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the transaction, the chief accounting officer directly owned 18,913 shares in the company, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 1,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. The trade was a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,294 shares of company stock worth $8,019,973 over the last three months. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

NASDAQ:ADI opened at $278.40 on Wednesday. The stock has a 50 day moving average of $247.79 and a two-hundred day moving average of $241.38. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $284.23. The firm has a market cap of $136.32 billion, a P/E ratio of 61.05, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last released its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the business posted $1.67 earnings per share. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, December 8th. Analog Devices’s payout ratio is 86.84%.

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.