Daymark Wealth Partners LLC Sells 1,083 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Daymark Wealth Partners LLC lowered its position in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,711 shares of the semiconductor company’s stock after selling 1,083 shares during the period. Daymark Wealth Partners LLC’s holdings in Analog Devices were worth $5,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADI. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the 3rd quarter worth $28,000. Archer Investment Corp increased its position in Analog Devices by 101.4% during the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after buying an additional 73 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Analog Devices during the third quarter valued at about $43,000. Reston Wealth Management LLC acquired a new stake in shares of Analog Devices in the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Analog Devices during the 3rd quarter worth about $80,000. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. Barclays reduced their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company began coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $248.70.

Get Our Latest Stock Analysis on Analog Devices

Analog Devices Stock Performance

NASDAQ:ADI opened at $221.45 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $215.66 and a 200 day moving average price of $222.33. The firm has a market capitalization of $109.87 billion, a PE ratio of 67.31, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14.

Analog Devices (NASDAQ:ADIGet Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $2.01 EPS. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. Research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.66%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

About Analog Devices

(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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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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