Pacific Capital Wealth Advisors Inc. Sells 95 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Pacific Capital Wealth Advisors Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 28.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242 shares of the semiconductor company’s stock after selling 95 shares during the quarter. Pacific Capital Wealth Advisors Inc.’s holdings in Analog Devices were worth $51,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ADI. Capital Performance Advisors LLP bought a new position in Analog Devices in the third quarter worth about $28,000. Archer Investment Corp boosted its stake in 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 acquiring an additional 73 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Analog Devices in the third quarter worth $43,000. Reston Wealth Management LLC acquired a new position in shares of Analog Devices during the third quarter worth $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Analog Devices during the 3rd quarter valued at $80,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

NASDAQ ADI opened at $215.42 on Tuesday. The stock’s 50 day simple moving average is $216.42 and its 200-day simple moving average is $222.09. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company has a market cap of $106.88 billion, a PE ratio of 65.48, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 earnings per share. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The transaction was disclosed in a 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 dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock worth $11,029,300. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Barclays lowered their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler lowered their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial raised their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices 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.