FourThought Financial LLC Reduces Position in Analog Devices, Inc. (NASDAQ:ADI)

FourThought Financial LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 24.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,557 shares of the semiconductor company’s stock after selling 817 shares during the quarter. FourThought Financial LLC’s holdings in Analog Devices were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Coston McIsaac & Partners purchased a new position in Analog Devices in the second quarter worth about $27,000. Worth Asset Management LLC purchased a new position in Analog Devices in the first quarter worth about $33,000. Eagle Bay Advisors LLC purchased a new position in Analog Devices in the second quarter worth about $41,000. Old North State Trust LLC purchased a new position in Analog Devices in the third quarter worth about $43,000. Finally, Pinnacle Financial Partners Inc. bought a new position in shares of Analog Devices in the third quarter worth about $45,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Analog Devices

In other news, Director Tunc Doluca sold 1,700 shares of Analog Devices stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $170.00, for a total value of $289,000.00. Following the completion of the transaction, the director now owns 66,157 shares in the company, valued at approximately $11,246,690. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director James Champy sold 1,495 shares of Analog Devices stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total value of $277,232.80. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,181,438.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tunc Doluca sold 1,700 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $170.00, for a total value of $289,000.00. Following the transaction, the director now owns 66,157 shares of the company’s stock, valued at approximately $11,246,690. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,195 shares of company stock worth $2,697,723. 0.46% of the stock is currently owned by company insiders.

Analog Devices Stock Performance

NASDAQ:ADI opened at $186.63 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.12 and a quick ratio of 1.50. Analog Devices, Inc. has a 1 year low of $133.48 and a 1 year high of $196.41. The stock’s 50 day simple moving average is $178.30 and its two-hundred day simple moving average is $162.79. The company has a market cap of $94.41 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.41 and a beta of 1.14.

Analog Devices (NASDAQ:ADI – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The semiconductor company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.15. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $1.94 EPS. The company’s revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 10.6 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 8th. Stockholders of record on Monday, February 27th were issued a $0.86 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Friday, February 24th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.84%. Analog Devices’s payout ratio is 51.89%.

Wall Street Analysts Forecast Growth

ADI has been the topic of several recent research reports. Susquehanna raised their price objective on Analog Devices from $205.00 to $225.00 and gave the stock a “positive” rating in a research note on Thursday, February 16th. Cowen raised their price objective on Analog Devices from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. Citigroup raised their price objective on Analog Devices from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Stifel Nicolaus raised their price objective on Analog Devices from $195.00 to $225.00 in a research note on Thursday, February 16th. Finally, Evercore ISI raised their price objective on Analog Devices from $185.00 to $195.00 in a research note on Wednesday, November 23rd. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $213.68.

About Analog Devices

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.