Moss Adams Wealth Advisors LLC Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Moss Adams Wealth Advisors LLC reduced its stake in Analog Devices, Inc. (NASDAQ:ADI) by 6.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,115 shares of the semiconductor company’s stock after selling 74 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Analog Devices were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at about $28,000. Archer Investment Corp increased its holdings in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the period. Peterson Financial Group Inc. acquired a new position in Analog Devices in the 3rd quarter worth approximately $43,000. Reston Wealth Management LLC acquired a new stake in Analog Devices during the 3rd quarter valued at approximately $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Analog Devices in the 3rd quarter valued at $80,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Barclays decreased their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday. TD Cowen dropped their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler decreased their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Truist Financial raised their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $11,029,300 in the last three months. 0.31% of the stock is currently owned by insiders.

Analog Devices Price Performance

Analog Devices stock opened at $219.16 on Monday. The company has a fifty day simple moving average of $215.64 and a 200-day simple moving average of $222.52. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $108.77 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 EPS. On average, equities analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

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.