Pallas Capital Advisors LLC Decreases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Pallas Capital Advisors LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,697 shares of the semiconductor company’s stock after selling 129 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Analog Devices were worth $337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Halpern Financial Inc. raised its holdings in Analog Devices by 331.4% during the 3rd quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 116 shares during the period. Silver Oak Securities Incorporated bought a new position in Analog Devices in the 3rd quarter valued at $29,000. Fortis Capital Advisors LLC bought a new position in Analog Devices in the 1st quarter valued at $31,000. West Tower Group LLC bought a new position in Analog Devices in the 2nd quarter valued at $32,000. Finally, Quarry LP grew its position in Analog Devices by 267.4% in the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,097,524.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Champy sold 1,228 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,228 shares of company stock worth $4,137,802. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial cut their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. The Goldman Sachs Group upped their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research report on Monday, March 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price objective (down previously from $219.00) on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Sanford C. Bernstein downgraded Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.26.

View Our Latest Stock Report on Analog Devices

Analog Devices Price Performance

Shares of ADI stock opened at $194.88 on Wednesday. The stock’s 50-day moving average is $193.13 and its 200 day moving average is $184.95. 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 $202.77. The company has a market cap of $96.64 billion, a P/E ratio of 34.86, a PEG ratio of 4.96 and a beta of 1.17.

Analog Devices (NASDAQ:ADIGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business posted $2.75 earnings per share. The firm’s revenue was down 22.7% compared to the same quarter last year. Research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.89%. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

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

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