Hunter Perkins Capital Management LLC Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Hunter Perkins Capital Management LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,806 shares of the semiconductor company’s stock after selling 1,880 shares during the period. Analog Devices comprises 2.5% of Hunter Perkins Capital Management LLC’s holdings, making the stock its 12th largest holding. Hunter Perkins Capital Management LLC’s holdings in Analog Devices were worth $12,069,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Analog Devices during the third quarter valued at $28,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 73 shares during the period. Peterson Financial Group Inc. bought a new position in Analog Devices during the 3rd quarter valued at about $43,000. Reston Wealth Management LLC purchased a new stake in Analog Devices in the 3rd quarter worth about $48,000. Finally, Northwest Investment Counselors LLC bought a new stake in Analog Devices in the third quarter worth about $80,000. Institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADI. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Truist Financial upped their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices Stock Down 4.8 %

Shares of Analog Devices stock opened at $217.37 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $107.85 billion, a P/E ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05. The firm’s 50 day moving average price is $216.42 and its 200-day moving average price is $222.09. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company earned $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s payout ratio is 111.85%.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $11,029,300 in the last three months. 0.31% of the stock is owned by 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.