PineStone Asset Management Inc. Sells 19,400 Shares of Analog Devices, Inc. $ADI

PineStone Asset Management Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 924,976 shares of the semiconductor company’s stock after selling 19,400 shares during the quarter. Analog Devices makes up about 1.4% of PineStone Asset Management Inc.’s portfolio, making the stock its 23rd largest position. PineStone Asset Management Inc.’s holdings in Analog Devices were worth $227,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Baader Bank Aktiengesellschaft raised its holdings in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,156 shares of the semiconductor company’s stock valued at $270,000 after purchasing an additional 43 shares during the period. Bennett Associates Wealth Management grew its stake in shares of Analog Devices by 2.9% in the 2nd quarter. Bennett Associates Wealth Management now owns 1,624 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 46 shares during the period. Solstein Capital LLC increased its position in Analog Devices by 2.0% in the 2nd quarter. Solstein Capital LLC now owns 2,307 shares of the semiconductor company’s stock valued at $549,000 after buying an additional 46 shares in the last quarter. Keystone Financial Services increased its position in Analog Devices by 1.2% in the 2nd quarter. Keystone Financial Services now owns 3,837 shares of the semiconductor company’s stock valued at $913,000 after buying an additional 46 shares in the last quarter. Finally, EFG Asset Management North America Corp. raised its stake in Analog Devices by 0.3% during the 1st quarter. EFG Asset Management North America Corp. now owns 14,209 shares of the semiconductor company’s stock worth $2,866,000 after buying an additional 47 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In related news, Director Edward H. Frank sold 1,000 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the transaction, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Martin Cotter sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total transaction of $1,355,950.00. Following the sale, the senior vice president owned 59,664 shares of the company’s stock, valued at $16,180,280.16. This trade represents a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 40,419 shares of company stock worth $10,249,017. 0.33% of the stock is owned by company insiders.

Analog Devices Price Performance

Analog Devices stock opened at $276.84 on Friday. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $284.23. The company’s 50 day moving average price is $254.03 and its two-hundred day moving average price is $244.26. The stock has a market cap of $135.56 billion, a P/E ratio of 60.71, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a quick ratio of 1.68, a current ratio of 2.19 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 (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.Analog Devices’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 earnings per share. On average, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on ADI shares. Wall Street Zen cut Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial increased their target price on Analog Devices from $258.00 to $291.00 and gave the stock a “hold” rating in a report on Friday, December 19th. BNP Paribas began coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target for the company. Benchmark restated a “buy” rating and set a $285.00 price objective on shares of Analog Devices in a report on Wednesday, November 26th. Finally, UBS Group lifted their price objective on shares of Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $287.22.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.