Dodge & Cox Reduces Inventory Position at Analog Devices, Inc. (NASDAQ:ADI)

Dodge & Cox has reduced its stake in Analog Devices, Inc., according to its latest disclosure to the Securities and Exchange Commission. (NASDAQ:ADI – Free Report) up 0.7% in the fourth quarter. The fund owned 34,585 shares of the semiconductor company after selling 239 shares during the quarter. At the end of the last reporting period, the value of Dodge & Cox’s interest in Analog Devices was USD 6,867,000.

Several other large investors have also recently increased or decreased their stake in the company. In the fourth quarter, Pinnacle Bancorp Inc. increased its stake in Analog Devices shares by 101.6%. After acquiring an additional 65 shares during this period, Pinnacle Bancorp Inc. currently owns 129 shares of the semiconductor company’s stock worth $26,000. USA Financial Formulas increased its holdings in Analog Devices by 87.8% during the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company NA purchased a new position in shares of Analog Devices during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in shares of Analog Devices during the 4th quarter valued at $29,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Analog Devices during the fourth quarter worth $32,000. Currently, 86.81% of the shares are in the hands of institutional investors.

Turnover on analog devices decreased by 1.2%

ADI shares opened Friday at $231.19. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $241.88. The company’s stock market capitalization is $114.72 billion, price-to-earnings ratio is 54.02, price-to-earnings growth ratio is 3.95, and beta is 1.12. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt to equity ratio of 0.19. The company’s fifty day simple moving average is $212.62 and its two hundred day simple moving average is $199.42.

Analog Devices (NASDAQ:ADI – Get Free Report) last released its quarterly earnings results on Wednesday, May 22nd. The semiconductor company reported EPS of $1.40 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 the consensus estimate of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The company’s revenues decreased by 33.8% compared to the same quarter last year. During the same period last year, the company saw EPS of $2.83. Analysts predict that as a group, Analog Devices, Inc. will see 6.24 earnings per share 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. This represents a dividend of $3.68 on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, June 4. Analog Devices’ payout ratio is currently 85.98%.

Analyst Upgrades and Downgrades

ADI has been the subject of numerous analyst reports. Truist Financial increased their target price on Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Oppenheimer increased their price target on Analog Devices from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Sanford C. Bernstein increased their price target on shares of Analog Devices from $200.00 to $220.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Finally, Robert W. Baird raised their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Seven analysts have rated the stock with a hold rating and eighteen analysts have rated the stock with a buy rating. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $243.23.

Get our latest analysis of analog stocks

Buying and selling confidential information in analog devices

Therefore, CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the transaction, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at approximately $2,495,209.26. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this link. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total transaction amount of $1,970,600.00. Following the transaction, the CEO now owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a filing with the Securities and Exchange Commission, available at this link. Additionally, CAO Michael Sondel sold 4,830 shares of Analog Devices stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $236.58, for a total value of $1,142,681.40. Following the completion of the sale, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The announcement of this sale can be found here. Insiders sold 51,349 shares of company stock worth $11,118,356 in the last quarter. 0.31% of shares are owned by insiders.

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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