Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Virginia Wealth Management Group Inc.

Virginia Wealth Management Group Inc. cut its stake in Analog Devices, Inc. (NASDAQ:ADI) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,336 shares of the semiconductor company’s stock after selling 230 shares during the period. Virginia Wealth Management Group Inc.’s holdings in Analog Devices were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after acquiring an additional 39,186 shares during the period. Swiss National Bank increased its holdings in shares of Analog Devices by 0.3% during the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock valued at $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of Analog Devices by 47.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares in the last quarter. Curbstone Financial Management Corp acquired a new stake in Analog Devices in the fourth quarter worth about $460,000. Finally, Summit Global Investments bought a new position in Analog Devices in the 3rd quarter valued at about $867,000. 86.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on ADI shares. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Truist Financial increased their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Morgan Stanley dropped their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $206.01 on Wednesday. The company’s fifty day moving average is $216.06 and its two-hundred day moving average is $220.94. The company has a market cap of $102.20 billion, a P/E ratio of 62.62, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm 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 firm earned $2.01 earnings per share. Analog Devices’s quarterly revenue was down 10.1% on a year-over-year basis. Equities analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently 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.