Confluence Investment Management LLC Has $150.75 Million Holdings in Analog Devices, Inc. $ADI

Confluence Investment Management LLC lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 613,557 shares of the semiconductor company’s stock after selling 12,338 shares during the period. Analog Devices accounts for 2.2% of Confluence Investment Management LLC’s portfolio, making the stock its 7th largest position. Confluence Investment Management LLC’s holdings in Analog Devices were worth $150,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in shares of Analog Devices in the second quarter valued at approximately $25,000. Activest Wealth Management raised its stake in Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. RMG Wealth Management LLC bought a new stake in Analog Devices in the 2nd quarter valued at $26,000. Saudi Central Bank acquired a new stake in Analog Devices in the 1st quarter worth $39,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Analog Devices by 141.8% during the 3rd quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 95 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the sale, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at $38,447,218. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Martin Cotter sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $271.19, for a total value of $1,355,950.00. Following the completion of the transaction, the senior vice president directly owned 59,664 shares in the company, valued at approximately $16,180,280.16. This represents a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,419 shares of company stock worth $10,249,017 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADI. Cfra reiterated a “buy” rating and issued a $280.00 target price on shares of Analog Devices in a research note on Tuesday, November 25th. Evercore ISI reduced their price objective on Analog Devices from $303.00 to $282.00 and set an “outperform” rating for the company in a research report on Tuesday, November 25th. Truist Financial boosted their price objective on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday. Piper Sandler set a $290.00 target price on Analog Devices in a research note on Tuesday, November 25th. Finally, Robert W. Baird lifted their price target on shares of Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.22.

Analog Devices Stock Performance

Analog Devices stock opened at $275.82 on Tuesday. The firm has a market capitalization of $135.06 billion, a P/E ratio of 60.49, a P/E/G ratio of 1.52 and a beta of 1.03. The stock has a fifty day moving average price of $251.00 and a two-hundred day moving average price of $242.97. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $284.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.