Global Retirement Partners LLC Sells 563 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Global Retirement Partners LLC lowered its stake in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,762 shares of the semiconductor company’s stock after selling 563 shares during the quarter. Global Retirement Partners LLC’s holdings in Analog Devices were worth $1,270,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ADI. Penobscot Investment Management Company Inc. lifted its position in shares of Analog Devices by 7.0% in the third quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock worth $1,766,000 after purchasing an additional 658 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Analog Devices by 5.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock worth $28,924,000 after purchasing an additional 7,021 shares in the last quarter. First Foundation Advisors lifted its position in shares of Analog Devices by 0.6% in the second quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock worth $3,180,000 after purchasing an additional 97 shares in the last quarter. Rockline Wealth Management LLC bought a new stake in shares of Analog Devices in the fourth quarter worth $334,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of Analog Devices by 3.1% in the third quarter. Commonwealth Equity Services LLC now owns 292,441 shares of the semiconductor company’s stock worth $51,204,000 after purchasing an additional 8,914 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Truist Financial cut their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Sanford C. Bernstein downgraded 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 report on Thursday, January 4th. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a report on Thursday, January 18th. Finally, KeyCorp boosted their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.26.

Check Out Our Latest Report on ADI

Analog Devices Price Performance

NASDAQ:ADI opened at $197.79 on Friday. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $202.77. The company has a market cap of $98.09 billion, a P/E ratio of 35.38, a P/E/G ratio of 4.96 and a beta of 1.17. The firm’s fifty day moving average price is $193.14 and its two-hundred day moving average price is $184.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 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 for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $2.75 earnings per share. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. Equities analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. 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 1.86%. Analog Devices’s dividend payout ratio is 65.83%.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were 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 in the company, valued at $1,259,164.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,125,860.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,228 shares of company stock worth $4,134,502. Corporate insiders own 0.31% of the company’s stock.

About Analog Devices

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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