Brookmont Capital Management Sells 189 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Brookmont Capital Management lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,735 shares of the semiconductor company’s stock after selling 189 shares during the period. Analog Devices accounts for approximately 1.7% of Brookmont Capital Management’s holdings, making the stock its 22nd biggest position. Brookmont Capital Management’s holdings in Analog Devices were worth $3,130,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after purchasing an additional 39,186 shares during the last quarter. Swiss National Bank raised its position in shares of Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after purchasing an additional 4,600 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Analog Devices by 47.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Summit Global Investments purchased a new position in shares of Analog Devices in the 3rd quarter worth about $867,000. Finally, Versor Investments LP purchased a new position in shares of Analog Devices in the 3rd quarter worth about $952,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $219.16 on Tuesday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. 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 stock’s 50-day simple moving average is $215.64 and its 200-day simple moving average is $222.47. The company 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 (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $2.01 earnings per share. The business’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

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. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices’s payout ratio is currently 111.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Piper Sandler decreased their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $248.70.

Insiders Place Their Bets

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’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 value of $4,477,400.00. Following the transaction, the executive vice president now directly 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. Insiders have sold 50,000 shares of company stock valued at $11,029,300 over the last ninety days. 0.31% of the stock is owned by insiders.

About Analog Devices

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.