Sentry Investment Management LLC Sells 336 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Sentry Investment Management LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 14.0% during the fourth quarter, HoldingsChannel reports. The fund owned 2,065 shares of the semiconductor company’s stock after selling 336 shares during the quarter. Sentry Investment Management LLC’s holdings in Analog Devices were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ADI. Capital Performance Advisors LLP acquired a new stake in Analog Devices in the 3rd quarter worth $28,000. Archer Investment Corp lifted its stake 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 valued at $33,000 after buying an additional 73 shares during the period. Financial Life Planners acquired a new stake in Analog Devices during the fourth quarter worth about $33,000. Kestra Investment Management LLC bought a new position in Analog Devices during the fourth quarter valued at about $41,000. Finally, Peterson Financial Group Inc. acquired a new position in Analog Devices in the 3rd quarter valued at approximately $43,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of several recent research reports. Truist Financial lifted their price objective on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Morgan Stanley lifted their price target on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Williams Trading set a $245.00 price objective on shares of Analog Devices in a research note on Friday, February 14th. Lake Street Capital started coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

Analog Devices Stock Down 0.8 %

Shares of NASDAQ ADI opened at $236.99 on Tuesday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $247.10. The firm’s 50-day simple moving average is $215.92 and its 200 day simple moving average is $220.64. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $117.54 billion, a price-to-earnings ratio of 75.47, a price-to-earnings-growth ratio of 2.85 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the business earned $1.73 earnings per share. Analog Devices’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 9.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date is Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 117.20%.

Analog Devices Company 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.