Schonfeld Strategic Advisors LLC Sells 44,187 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Schonfeld Strategic Advisors LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 64.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,056 shares of the semiconductor company's stock after selling 44,187 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Analog Devices were worth $5,111,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ADI. Midwest Professional Planners LTD. boosted its stake in shares of Analog Devices by 0.6% during the fourth quarter. Midwest Professional Planners LTD. now owns 9,296 shares of the semiconductor company's stock valued at $1,975,000 after purchasing an additional 53 shares in the last quarter. Portland Global Advisors LLC grew its holdings in Analog Devices by 1.3% during the 4th quarter. Portland Global Advisors LLC now owns 4,014 shares of the semiconductor company's stock worth $853,000 after acquiring an additional 53 shares during the last quarter. NTV Asset Management LLC increased its position in Analog Devices by 2.7% in the 4th quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company's stock valued at $438,000 after acquiring an additional 54 shares during the period. West Oak Capital LLC raised its stake in shares of Analog Devices by 0.4% during the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after acquiring an additional 55 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted 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. Institutional investors and hedge funds own 86.81% of the company's stock.

Insider Buying and Selling

In other news, Director Ray Stata sold 3,125 shares of the 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 transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. This represents a 1.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vivek Jain sold 12,684 shares of Analog Devices 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. This represents a 22.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,809 shares of company stock worth $8,123,156. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $198.59 on Friday. The business's fifty day moving average is $198.79 and its 200 day moving average is $211.59. The firm has a market cap of $98.50 billion, a price-to-earnings ratio of 63.25, a PEG ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.93. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10.

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

Analog Devices announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a $0.99 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.99%. This is a boost from Analog Devices's previous quarterly dividend of $0.92. Analog Devices's dividend payout ratio is presently 126.11%.

Analysts Set New Price Targets

ADI has been the subject of a number of analyst reports. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research report on Wednesday. Truist Financial boosted 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. Morgan Stanley set a $214.00 target price on shares of Analog Devices in a research note on Monday, April 21st. Maxim Group initiated coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a "buy" rating on the stock. Finally, Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus target price of $250.43.

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.

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.