Mattern Capital Management LLC Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Mattern Capital Management LLC trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,027 shares of the semiconductor company's stock after selling 2,202 shares during the period. Mattern Capital Management LLC's holdings in Analog Devices were worth $9,282,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADI. Orion Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $27,000. Menard Financial Group LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $27,000. Hopwood Financial Services Inc. purchased a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Mainstream Capital Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC boosted its holdings in shares of Analog Devices by 63.2% during the fourth 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 period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADI. Benchmark reiterated a "buy" rating and set a $260.00 target price (down from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a report on Friday, May 23rd. Piper Sandler dropped their target price on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Noble Financial upgraded shares of Analog Devices to an "outperform" rating in a report on Wednesday, June 18th. Finally, Evercore ISI increased their target price on shares of Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $251.75.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $234.98 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The company has a 50 day simple moving average of $211.70 and a two-hundred day simple moving average of $211.32. The company has a market capitalization of $116.61 billion, a price-to-earnings ratio of 64.03, a P/E/G ratio of 2.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08.

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 18.65% and a return on equity of 9.56%. 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. Analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the sale, the chief executive officer now owns 142,996 shares of the company's stock, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 186,321 shares of the company's stock, 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. Insiders sold 16,250 shares of company stock valued at $3,143,556 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

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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