Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 28.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,393 shares of the semiconductor company's stock after selling 48,760 shares during the quarter. Cresset Asset Management LLC's holdings in Analog Devices were worth $25,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in Analog Devices in the fourth quarter valued at $30,000. Hopwood Financial Services Inc. acquired a new position in Analog Devices during the 4th quarter worth $30,000. Cassady Schiller Wealth Management LLC increased its position in shares of Analog Devices by 63.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices in the 4th quarter valued at about $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices during the fourth quarter worth about $41,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,663,640.00. Following the sale, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. The trade was a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now directly owns 186,321 shares of the company's stock, valued at approximately $33,576,907.41. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,809 shares of company stock valued at $8,123,156. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADI. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Oppenheimer reiterated an "outperform" rating and set a $270.00 target price (up previously from $245.00) on shares of Analog Devices in a research note on Thursday, February 20th. Truist Financial raised their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Finally, UBS Group increased their price objective on shares of Analog Devices from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $250.43.

Analog Devices Trading Down 0.4 %

Shares of NASDAQ:ADI opened at $197.72 on Tuesday. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a market cap of $98.06 billion, a P/E ratio of 62.97, a P/E/G ratio of 2.85 and a beta of 0.98. The company has a 50 day moving average of $198.07 and a 200-day moving average of $211.15.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its board has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Analog Devices's previous quarterly dividend of $0.92. This represents a $3.96 annualized dividend and a yield of 2.00%. Analog Devices's payout ratio is 126.11%.

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.

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