Merit Financial Group LLC Trims Stake in Analog Devices, Inc. (NASDAQ:ADI)

Merit Financial Group LLC decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 43.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,711 shares of the semiconductor company’s stock after selling 2,093 shares during the period. Merit Financial Group LLC’s holdings in Analog Devices were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. M&T Bank Corp boosted its position in shares of Analog Devices by 3.3% in the 4th quarter. M&T Bank Corp now owns 444,961 shares of the semiconductor company’s stock worth $88,351,000 after purchasing an additional 14,124 shares in the last quarter. 9258 Wealth Management LLC boosted its position in shares of Analog Devices by 3.9% in the 4th quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after purchasing an additional 85 shares in the last quarter. Carson Advisory Inc. bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $219,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Analog Devices by 253.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 71,054 shares of the semiconductor company’s stock worth $14,108,000 after purchasing an additional 50,975 shares in the last quarter. Finally, Running Oak Capital LLC boosted its position in shares of Analog Devices by 16.1% in the 4th quarter. Running Oak Capital LLC now owns 47,717 shares of the semiconductor company’s stock worth $9,475,000 after purchasing an additional 6,611 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at approximately $10,075,098.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Analog Devices news, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,874,613 in the last three months. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $203.57 on Wednesday. The business’s fifty day moving average price is $194.85 and its 200-day moving average price is $188.89. The stock has a market capitalization of $100.95 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 5.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $205.77.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. Analog Devices’s revenue was down 22.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 EPS. On average, equities analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio is 65.83%.

Analyst Ratings Changes

ADI has been the topic of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Barclays upped their price objective on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research report on Thursday, January 18th. Evercore ISI began coverage on Analog Devices in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

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.