Congress Asset Management Co. MA trims stake in Analog Devices, Inc. (NASDAQ:ADI)

According to its latest 13F filing with the Securities and Exchange Commission (SEC), Congress Asset Management Co. MA reduced its stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) up 6.2% in the fourth quarter . The fund owned 89,876 shares of the semiconductor company after selling 5,963 shares during the quarter. At the end of the last quarter, shares of Congress Asset Management Co. MAs in Analog Devices were worth $17,846,000.

Several 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% in the 4th 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 during the period. 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 during the period. 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 during the period. Legacy Advisors LLC increased its holdings in Analog Devices by 2.3% in the 3rd quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 59 shares during the period. Finally, Wealth Alliance increased its holdings in Analog Devices by 3.6% during the fourth quarter. Wealth Alliance now owns 1,769 shares of the semiconductor company’s stock valued at $351,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors hold 86.81% of the company’s shares.

Changes in analyst ratings

Many stock analysts have commented on the stock recently. Robert W. Baird raised their target price on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. Truist Financial raised their target price on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. KeyCorp raised their target price on shares of Analog Devices from $230.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group raised their target price on shares of Analog Devices from $205.00 to $252.00 and gave the stock a “buy” in a research note on Thursday, May 23rd. Finally, Evercore ISI began covering shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price target on the stock. Seven analysts have rated the company with a hold rating and eighteen analysts have rated the company with a buy rating. According to MarketBeat data, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.23.

View our latest analog device stock report

Confidential activity at Analog Devices

In other news, Director James Champy sold 1,228 shares of the company’s 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 completion of the sale, the director now owns 6,371 shares of the company’s stock valued at $1,259,164.44. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed at this link. Other reports from Analog Devices indicate that CAO Michael Sondel sold 4,830 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $236.58, for a total transaction amount of $1,142,681.40. Following the sale, the chief accounting officer now owns 10,547 shares of the company’s stock, valued at $2,495,209.26. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available at this link. Additionally, Director James Champy sold 1,228 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The announcement of this sale can be found here. Over the last 90 days, insiders have sold 51,349 shares of company stock worth $11,118,356. Insiders own 0.31% of the company’s shares.

Turnover on analog devices decreased by 1.2%

Shares of Analog Devices fell $2.84 during trading hours on Friday, reaching $231.19. The company’s stock traded volume was 2,252,494 shares while its average trading volume was 3,438,953. The company has a fifty-day moving average of $212.62 and a 200-day moving average of $199.54. Analog Devices, Inc. it has a 1-year low of $154.99 and a 1-year high of $241.88. 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 has a market capitalization of $114.72 billion, a PE ratio of 54.02, a P/E/G ratio of 3.90 and a beta of 1.12.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last released its earnings results on Wednesday, May 22nd. The semiconductor company reported earnings per share (EPS) of $1.40 for the quarter, $0.14 above analysts’ consensus estimates of $1.26. The company had revenue of $2.16 billion for the quarter, 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 revenue for this quarter decreased by 33.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.83 per share. As a group, stock analysts forecast that Analog Devices, Inc. it will record 6.24 EPS for the current year.

Dividend announcement for analog devices

Recently, the company also declared a quarterly dividend, which will be paid on Monday, June 17. Investors of record will receive a $0.92 dividend on Tuesday, June 4. This represents an annual dividend of $3.68 and a dividend yield of 1.59%. The ex-dividend date is Tuesday, June 4. Analog Devices’ dividend payout ratio (DPR) is 85.98%.

Analog devices company 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.

read more

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider analog devices, you’ll want to hear this.

Every day, MarketBeat tracks Wall Street’s top-rated and best-performing analysts and the stocks they recommend to their clients. MarketBeat identified five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market embraces them… and Analog Devices wasn’t on the list.

While Analog Devices currently has an analyst rating of Moderate Buy, top-rated analysts believe these five stocks are better picks.

See five stocks here