New England Research & Management Inc. Sells 117 Shares of Analog Devices, Inc. (NASDAQ:ADI)

New England Research & Management Inc. cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,133 shares of the semiconductor company’s stock after selling 117 shares during the period. New England Research & Management Inc.’s holdings in Analog Devices were worth $1,609,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 worth $300,000 after buying an additional 54 shares during the last quarter. Mcdonald Partners LLC increased its holdings in Analog Devices by 0.7% during the first quarter. Mcdonald Partners LLC now owns 7,567 shares of the semiconductor company’s stock worth $1,497,000 after buying an additional 54 shares during 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 worth $623,000 after buying an additional 55 shares during the last quarter. Ancora Advisors LLC increased its holdings in Analog Devices by 2.1% during the third quarter. Ancora Advisors LLC now owns 2,744 shares of the semiconductor company’s stock worth $480,000 after buying an additional 57 shares during the last quarter. Finally, Legacy Advisors LLC increased its holdings in Analog Devices by 2.3% during the third quarter. Legacy Advisors LLC now owns 2,657 shares of the semiconductor company’s stock worth $465,000 after buying an additional 59 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADI shares. KeyCorp upped their price objective on shares of Analog Devices from $230.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Truist Financial upped their price objective on shares of Analog Devices from $222.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. TD Cowen upped their price objective on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Oppenheimer upped their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Finally, Cantor Fitzgerald upped their price objective on shares of Analog Devices from $205.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Analog Devices Stock Up 0.7 %

ADI stock opened at $228.26 on Friday. The stock has a market capitalization of $113.27 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 3.82 and a beta of 1.12. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $241.88. The firm has a 50-day moving average price of $220.13 and a 200-day moving average price of $202.57.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Analog Devices had a net margin of 20.45% and a return on equity of 10.74%. The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.83 earnings per share. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 6.24 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Activity

In other news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $233.94, for a total transaction of $4,120,151.28. Following the completion of the sale, the executive vice president now owns 69,241 shares of the company’s stock, valued at approximately $16,198,239.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on 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 directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders sold 50,121 shares of company stock valued at $10,875,654 over the last quarter. 0.31% of the stock is owned by company insiders.

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.