Daymark Wealth Partners LLC Sells 9,619 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Daymark Wealth Partners LLC decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 40.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,092 shares of the semiconductor company's stock after selling 9,619 shares during the quarter. Daymark Wealth Partners LLC's holdings in Analog Devices were worth $2,842,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Analog Devices by 39.5% in the fourth quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after buying an additional 529 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Analog Devices in the fourth quarter valued at $2,799,000. Golden State Wealth Management LLC bought a new position in shares of Analog Devices in the 4th quarter valued at about $61,000. Empowered Funds LLC increased its stake in shares of Analog Devices by 74.0% during the 4th quarter. Empowered Funds LLC now owns 43,327 shares of the semiconductor company's stock worth $9,205,000 after purchasing an additional 18,422 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its holdings in shares of Analog Devices by 12.0% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,215 shares of the semiconductor company's stock valued at $471,000 after purchasing an additional 238 shares during the period. Institutional investors own 86.81% of the company's stock.

Analyst Upgrades and Downgrades

ADI has been the subject of several recent analyst reports. Wells Fargo & Company reiterated a "positive" rating on shares of Analog Devices in a research note on Friday, May 23rd. Cantor Fitzgerald raised their price objective on Analog Devices from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Lake Street Capital began coverage on Analog Devices in a research note on Friday, February 14th. They set a "buy" rating for the company. JPMorgan Chase & Co. increased their price target on Analog Devices from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Seaport Res Ptn raised shares of Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average target price of $248.63.

Insiders Place Their Bets

In related news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, May 6th. The stock was sold at an average price of $195.84, for a total value of $612,000.00. Following the transaction, the director now directly owns 180,071 shares in the company, valued at $35,265,104.64. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,934 shares of company stock valued at $8,735,156. 0.33% of the stock is currently owned by insiders.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $5.68 on Tuesday, reaching $233.34. 4,164,068 shares of the company's stock were exchanged, compared to its average volume of 3,566,417. The company has a market capitalization of $115.79 billion, a price-to-earnings ratio of 74.31, a PEG ratio of 2.85 and a beta of 1.00. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The company has a fifty day moving average of $200.14 and a 200-day moving average of $210.38.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.40 EPS. On average, research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.99 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.70%. Analog Devices's dividend payout ratio is currently 107.90%.

Analog Devices declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.