Good Life Advisors LLC Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Good Life Advisors LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,293 shares of the semiconductor company’s stock after selling 152 shares during the quarter. Good Life Advisors LLC’s holdings in Analog Devices were worth $455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penobscot Investment Management Company Inc. lifted its position in Analog Devices by 7.0% during the third quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock valued at $1,766,000 after buying an additional 658 shares during the period. Gateway Investment Advisers LLC increased its holdings in shares of Analog Devices by 5.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock valued at $28,924,000 after acquiring an additional 7,021 shares in the last quarter. First Foundation Advisors increased its holdings in shares of Analog Devices by 0.6% during the second quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock valued at $3,180,000 after acquiring an additional 97 shares in the last quarter. Rockline Wealth Management LLC bought a new position in shares of Analog Devices during the fourth quarter valued at $334,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Analog Devices by 3.1% during the third quarter. Commonwealth Equity Services LLC now owns 292,441 shares of the semiconductor company’s stock valued at $51,204,000 after acquiring an additional 8,914 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADI shares. Truist Financial reduced their price target on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price target for the company in a report on Thursday, January 18th. The Goldman Sachs Group lifted their price objective on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Barclays lifted their price objective on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.26.

Insider Activity

In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s 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 sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders have sold a total of 21,228 shares of company stock valued at $4,134,502 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Up 2.3 %

ADI stock opened at $197.79 on Friday. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $202.77. 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 stock has a market cap of $98.09 billion, a P/E ratio of 35.38, a PEG ratio of 4.74 and a beta of 1.17. The business’s 50-day moving average price is $192.93 and its 200-day moving average price is $184.47.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm earned $2.75 EPS. The business’s quarterly revenue was down 22.7% on a year-over-year basis. On average, equities research analysts forecast that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

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.