Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,683 shares of the semiconductor company’s stock after selling 259 shares during the period. Analog Devices comprises 1.8% of Argus Investors Counsel Inc.’s holdings, making the stock its 13th largest position. Argus Investors Counsel Inc.’s holdings in Analog Devices were worth $2,695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ADI. Czech National Bank grew its stake in shares of Analog Devices by 7.0% in the 3rd quarter. Czech National Bank now owns 101,084 shares of the semiconductor company’s stock valued at $23,267,000 after buying an additional 6,584 shares during the period. Miracle Mile Advisors LLC grew its position in Analog Devices by 6.0% in the third quarter. Miracle Mile Advisors LLC now owns 3,595 shares of the semiconductor company’s stock worth $827,000 after acquiring an additional 204 shares during the period. Fulton Bank N.A. increased its stake in Analog Devices by 53.2% during the third quarter. Fulton Bank N.A. now owns 1,936 shares of the semiconductor company’s stock worth $446,000 after acquiring an additional 672 shares during the last quarter. Atomi Financial Group Inc. raised its position in Analog Devices by 14.1% in the third quarter. Atomi Financial Group Inc. now owns 2,184 shares of the semiconductor company’s stock valued at $503,000 after purchasing an additional 270 shares during the period. Finally, Sovereign Financial Group Inc. grew its holdings in shares of Analog Devices by 11.3% during the 3rd quarter. Sovereign Financial Group Inc. now owns 1,444 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 147 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI opened at $209.80 on Thursday. 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 fifty-two week low of $182.57 and a fifty-two week high of $244.14. The firm’s fifty day simple moving average is $215.65 and its 200-day simple moving average is $220.68. The stock has a market cap of $104.08 billion, a PE ratio of 63.77, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04.

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. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $2.01 EPS. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts expect that Analog Devices, Inc. will post 7.09 earnings per share 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 given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio is presently 111.85%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADI. Barclays reduced their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Truist Financial upped their price target on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

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.