Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,166 shares of the semiconductor company’s stock after selling 1,203 shares during the quarter. Mattern Wealth Management LLC’s holdings in Analog Devices were worth $2,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADI. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the third quarter valued at about $28,000. Archer Investment Corp increased its position in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the 3rd quarter valued at $43,000. Reston Wealth Management LLC acquired a new stake in Analog Devices in the 3rd quarter valued at $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Analog Devices in the third quarter worth about $80,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADI. Morgan Stanley dropped their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Barclays reduced their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Trading Down 0.9 %

Shares of ADI stock opened at $215.42 on Tuesday. 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 $106.88 billion, a P/E ratio of 65.48, a P/E/G ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The stock’s fifty day simple moving average is $216.42 and its 200 day simple moving average is $222.09.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for 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%. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 earnings per share. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock valued at $11,029,300. Corporate insiders own 0.31% of the company’s stock.

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.