Carret Asset Management LLC Sells 2,600 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Carret Asset Management LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 23.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,671 shares of the semiconductor company’s stock after selling 2,600 shares during the period. Carret Asset Management LLC’s holdings in Analog Devices were worth $1,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd boosted its position in shares of Analog Devices by 8.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 4,847 shares of the semiconductor company’s stock valued at $962,000 after buying an additional 397 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Analog Devices during the fourth quarter valued at $618,000. Linden Thomas Advisory Services LLC boosted its position in shares of Analog Devices by 7.9% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 9,358 shares of the semiconductor company’s stock valued at $1,858,000 after buying an additional 682 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Analog Devices by 37.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,569 shares of the semiconductor company’s stock valued at $312,000 after buying an additional 424 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Analog Devices by 0.7% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 178,957 shares of the semiconductor company’s stock valued at $34,424,000 after buying an additional 1,194 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADI. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. Barclays raised their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Sanford C. Bernstein cut Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research report on Thursday, January 4th. KeyCorp raised their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Truist Financial dropped their target price 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. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Buying and Selling

In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Champy sold 1,228 shares of the company’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 transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock valued at $4,825,113 in the last three months. 0.31% of the stock is owned by corporate insiders.

Analog Devices Price Performance

ADI traded up $6.57 on Wednesday, hitting $196.50. 6,523,668 shares of the company’s stock traded hands, compared to its average volume of 3,398,446. The company’s 50 day simple moving average is $192.77 and its 200-day simple moving average is $186.93. The firm has a market cap of $97.45 billion, a price-to-earnings ratio of 35.73, a P/E/G ratio of 4.67 and a beta of 1.17. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $2.75 EPS. The company’s revenue was down 22.7% compared to the same quarter last year. As a group, research analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. Analog Devices’s payout ratio is presently 65.83%.

Analog Devices Profile

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.