Western Wealth Management LLC Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Western Wealth Management LLC lessened its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,833 shares of the semiconductor company’s stock after selling 213 shares during the period. Western Wealth Management LLC’s holdings in Analog Devices were worth $364,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Markel Corp raised its holdings in shares of Analog Devices by 1.4% during the 1st quarter. Markel Corp now owns 1,077,821 shares of the semiconductor company’s stock worth $178,034,000 after acquiring an additional 15,150 shares during the period. Fairfield Bush & CO. purchased a new position in Analog Devices during the first quarter worth about $82,000. United Bank boosted its holdings in Analog Devices by 24.7% in the 1st quarter. United Bank now owns 6,647 shares of the semiconductor company’s stock valued at $1,098,000 after purchasing an additional 1,315 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Analog Devices by 34.7% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,599 shares of the semiconductor company’s stock valued at $264,000 after buying an additional 412 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Analog Devices by 14.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 116,085 shares of the semiconductor company’s stock worth $19,175,000 after buying an additional 14,718 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. KeyCorp upped their price objective on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Barclays upped their price target on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. The Goldman Sachs Group raised their price objective on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research report on Thursday, January 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a research report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Price Performance

ADI stock opened at $183.36 on Monday. The stock has a market cap of $90.93 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.60 and a beta of 1.17. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $192.82 and a 200 day moving average price of $186.72.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $2.75 EPS. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders sold a total of 24,707 shares of company stock valued at $4,825,113 in the last three months. 0.31% of the stock is currently owned by company insiders.

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.