Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Howard Capital Management Inc.

Howard Capital Management Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.3% in the first quarter, Holdings Channel reports. The institutional investor owned 12,473 shares of the semiconductor company’s stock after selling 1,911 shares during the quarter. Howard Capital Management Inc.’s holdings in Analog Devices were worth $2,515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADI. Orion Capital Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC acquired a new stake in Analog Devices in the 4th quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new stake in Analog Devices in the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC acquired a new stake in Analog Devices in the 1st quarter valued at approximately $33,000. Finally, North Capital Inc. acquired a new stake in Analog Devices in the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares of the company’s stock, valued at $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares of the company’s stock, valued at approximately $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is owned by corporate insiders.

Analog Devices Price Performance

Analog Devices stock opened at $230.75 on Wednesday. The stock has a market cap of $114.51 billion, a P/E ratio of 62.87, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The company has a fifty day simple moving average of $230.88 and a 200-day simple moving average of $215.42. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. Equities analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.72%. Analog Devices’s dividend payout ratio (DPR) is presently 107.90%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler dropped their target price 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. Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the company an “equal weight” rating in a report on Monday, June 16th. Stifel Nicolaus lifted their target price on shares of Analog Devices from $248.00 to $270.00 and gave the company a “buy” rating in a report on Friday, July 18th. Seaport Res Ptn upgraded shares of Analog Devices from a “strong sell” rating to a “hold” rating in a report on Monday, July 21st. Finally, Evercore ISI lifted their target price 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. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.89.

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.