Cullinan Associates Inc. Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Cullinan Associates Inc. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 42.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,326 shares of the semiconductor company’s stock after selling 6,759 shares during the period. Cullinan Associates Inc.’s holdings in Analog Devices were worth $1,981,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Analog Devices during the 3rd quarter worth $28,000. Archer Investment Corp grew 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 worth $33,000 after purchasing an additional 73 shares in the last quarter. Financial Life Planners bought a new stake in Analog Devices in the fourth quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new stake in Analog Devices during the third quarter valued at approximately $43,000. Finally, Reston Wealth Management LLC acquired a new stake in Analog Devices during the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 3.1 %

Shares of NASDAQ:ADI opened at $205.24 on Tuesday. The firm has a market cap of $101.82 billion, a P/E ratio of 62.38, a P/E/G ratio of 2.43 and a beta of 1.05. The business has a fifty day simple moving average of $216.43 and a 200 day simple moving average of $221.17. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the company posted $2.01 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. Analog Devices’s payout ratio is 111.85%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADI. TD Cowen decreased their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Piper Sandler decreased 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. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Truist Financial lifted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

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.