Ferguson Wellman Capital Management Inc. cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,378 shares of the semiconductor company's stock after selling 1,267 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Analog Devices were worth $23,672,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Analog Devices by 39.5% in the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock valued at $397,000 after acquiring an additional 529 shares during the last quarter. Savant Capital LLC grew its holdings in Analog Devices by 12.0% during the 4th quarter. Savant Capital LLC now owns 9,316 shares of the semiconductor company's stock worth $1,979,000 after acquiring an additional 997 shares during the period. Sovran Advisors LLC acquired a new stake in Analog Devices during the 4th quarter worth about $261,000. Portfolio Design Labs LLC grew its holdings in Analog Devices by 33.9% during the 4th quarter. Portfolio Design Labs LLC now owns 11,118 shares of the semiconductor company's stock worth $2,362,000 after acquiring an additional 2,817 shares during the period. Finally, L. Roy Papp & Associates LLP grew its stake in shares of Analog Devices by 1.3% in the 4th quarter. L. Roy Papp & Associates LLP now owns 36,805 shares of the semiconductor company's stock valued at $7,820,000 after buying an additional 480 shares during the period. 86.81% of the stock is currently owned by institutional investors.
Analog Devices Trading Down 3.1%
Shares of Analog Devices stock traded down $7.09 during trading on Friday, reaching $225.03. 3,349,531 shares of the stock were exchanged, compared to its average volume of 3,571,697. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $247.10. The stock's fifty day moving average is $204.95 and its 200 day moving average is $210.79. The firm has a market cap of $111.67 billion, a price-to-earnings ratio of 71.67, a price-to-earnings-growth ratio of 2.85 and a beta of 1.00.
Analog Devices (NASDAQ:ADI - Get Free Report) last announced its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The business's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.
Analog Devices declared that its board has authorized a share repurchase plan on Tuesday, February 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.
Analog Devices Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.
Insider Activity at Analog Devices
In other news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total transaction of $563,156.25. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of Analog Devices stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,934 shares of company stock valued at $6,643,956 over the last 90 days. Corporate insiders own 0.33% of the company's stock.
Analyst Ratings Changes
Several analysts have recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. KGI Securities started coverage on shares of Analog Devices in a research report on Friday, May 23rd. They set a "buy" rating on the stock. Evercore ISI lifted their target price on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Truist Financial lifted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $248.63.
Read Our Latest Stock Report on ADI
Analog Devices Company Profile
(
Free Report)
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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