Analog Devices, Inc. Stock (NASDAQ:ADI) sold by Clearbridge Investments LLC

Clearbridge Investments LLC has reduced its stake in Analog Devices, Inc. stock, according to its latest disclosure to the Securities and Exchange Commission (SEC). (NASDAQ:ADI – Free Report) up 29.1% in the fourth quarter. After selling 808 shares during that period, the company now owned 1,972 shares of the semiconductor company. Clearbridge Investments LLC’s stake in Analog Devices was worth $392,000, according to its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the company. Amarillo National Bank increased its holdings in Analog Devices by 3.7% during the fourth quarter. Amarillo National Bank now owns 1,511 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 54 shares in the last quarter. Keystone Financial Services increased its holdings in Analog Devices by 1.8% during the fourth quarter. Keystone Financial Services now owns 3,136 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 55 shares in the last quarter. Ancora Advisors LLC increased its holdings in Analog Devices by 2.1% during the 3rd quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock valued at $480,000 after purchasing an additional 57 shares in the last quarter. Legacy Advisors LLC increased its holdings in Analog Devices by 2.3% during the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 59 shares in the last quarter. Finally, MRA Advisory Group increased its holdings in Analog Devices by 2.5% in the third quarter. MRA Advisory Group now owns 2,534 shares of the semiconductor company’s stock valued at $444,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds hold 86.81% of the company’s shares.

Analog equipment inventory performance

On Monday, NASDAQ ADI opened at $232.51. The company’s market capitalization is $115.38 billion, P/E ratio is 54.32, P/E/G ratio is 5.77 and beta is 1.14. Analog Devices, Inc. it has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a debt to equity ratio of 0.19, a current ratio of 1.58 and a quick ratio of 0.98. The company’s 50-day simple moving average is $200.67 and its 200-day simple moving average is $193.84.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, $0.14 above the consensus estimate of $1.26. The company’s revenue for the quarter was $2.16 billion, compared to analyst estimates of $2.11 billion. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company’s revenues decreased by 33.8% compared to the same quarter last year. During the same period last year, the company saw an EPS of $2.83. Stock analysts predict that Analog Devices, Inc. will see 6.16 EPS for the current year.

Dividend announcement for analog devices

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Investors of record will receive a dividend of $0.92 per share on Tuesday, June 4. The ex-dividend date is Tuesday, June 4. This represents an annual dividend of $3.68 and a dividend yield of 1.58%. Analog Devices’ payout ratio is currently 85.98%.

Confidential activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction amount of $242,701.92. Following the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available on the SEC’s website. Additionally, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the CEO now owns 51,039 shares of the company’s stock, valued at $10,075,098.60. The announcement of this sale can be found here. Over the last ninety days, insiders have sold 24,707 shares of company stock worth $4,874,613. Currently, company insiders own 0.31% of the shares.

Wall Street analysts predict growth

Several analysts have rated the company. Truist Financial raised their price target on Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen raised their price target on Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their price target on Analog Devices from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus increased their price target on Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, Oppenheimer increased their price target on Analog from $215.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and eighteen analysts have rated the stock with a buy rating. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23, according to MarketBeat data.

Check out our latest research report on ADI

Analog device profile

(free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

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