Parsons Capital Management Inc. RI Sells 89 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Parsons Capital Management Inc. RI cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,754 shares of the semiconductor company’s stock after selling 89 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Analog Devices were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Pinnacle Bancorp Inc. lifted its holdings in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. USA Financial Formulas raised its holdings in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 65 shares during the last quarter. Silver Oak Securities Incorporated bought a new stake in Analog Devices during the 3rd quarter valued at $29,000. Cetera Trust Company N.A bought a new stake in Analog Devices during the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new stake in Analog Devices during the 4th quarter valued at $29,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Up 2.0 %

Shares of Analog Devices stock traded up $4.03 during trading on Friday, hitting $201.97. The company’s stock had a trading volume of 3,136,261 shares, compared to its average volume of 3,090,032. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a fifty day simple moving average of $193.45 and a two-hundred day simple moving average of $187.44. The company has a market capitalization of $100.16 billion, a PE ratio of 36.13, a P/E/G ratio of 5.07 and a beta of 1.17. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. During the same period last year, the business earned $2.75 EPS. Equities research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share 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 dividend of $0.92 per share. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Analysts Set New Price Targets

ADI has been the subject of a number of recent analyst reports. KeyCorp upped their price target on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Truist Financial lowered their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Oppenheimer reissued an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a research report on Thursday, February 22nd. Sanford C. Bernstein downgraded shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, January 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares in the company, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,707 shares of company stock worth $4,825,113. 0.31% of the stock is owned by corporate insiders.

Analog Devices Company 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.