Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 88.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 999 shares of the semiconductor company's stock after selling 7,377 shares during the period. Consolidated Planning Corp's holdings in Analog Devices were worth $201,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter valued at about $27,000. Menard Financial Group LLC purchased a new position in Analog Devices during the fourth quarter worth about $27,000. Hopwood Financial Services Inc. purchased a new position in Analog Devices during the fourth quarter worth about $30,000. Mainstream Capital Management LLC acquired a new position in Analog Devices in the 4th quarter valued at about $30,000. Finally, Cassady Schiller Wealth Management LLC grew its stake 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 valued at $30,000 after buying an additional 55 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADI. Piper Sandler reduced their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. TD Cowen lifted their target price on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Citigroup upped their price target on Analog Devices from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, May 19th. KGI Securities initiated coverage on Analog Devices in a report on Friday, May 23rd. They set a "buy" rating for the company. Finally, Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $251.75.

Analog Devices Stock Down 0.1%

Analog Devices stock traded down $0.34 during trading on Friday, reaching $236.96. The stock had a trading volume of 3,539,182 shares, compared to its average volume of 3,578,901. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10. The stock has a market cap of $117.59 billion, a PE ratio of 64.57, a P/E/G ratio of 2.17 and a beta of 1.00. The business has a 50 day moving average price of $214.10 and a 200 day moving average price of $211.61.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. On average, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.67%. Analog Devices's dividend payout ratio is currently 107.90%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer now owns 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $180.21, for a total value of $563,156.25. Following the sale, the director now owns 186,321 shares in the company, valued at $33,576,907.41. This trade represents a 1.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,250 shares of company stock worth $3,143,556. 0.33% of the stock is currently owned by insiders.

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.