Valmark Advisers Inc. Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Valmark Advisers Inc. reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 0.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,033 shares of the semiconductor company’s stock after selling 53 shares during the period. Valmark Advisers Inc.’s holdings in Analog Devices were worth $1,595,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. raised its position in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the period. Cetera Trust Company N.A purchased a new stake in Analog Devices during the fourth quarter valued at approximately $29,000. Stuart Chaussee & Associates Inc. purchased a new stake in Analog Devices during the fourth quarter valued at approximately $32,000. Northwest Capital Management Inc raised its position in Analog Devices by 519.2% during the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 135 shares during the period. Finally, Silver Oak Securities Incorporated purchased a new stake in Analog Devices during the third quarter valued at approximately $29,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ADI shares. Wolfe Research raised Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. KeyCorp increased their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. 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. Finally, Sanford C. Bernstein lowered Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Activity

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

Analog Devices Price Performance

Analog Devices stock traded up $4.03 during mid-day trading on Friday, reaching $201.97. The company had a trading volume of 3,136,261 shares, compared to its average volume of 3,090,032. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The company has a market capitalization of $100.16 billion, a P/E ratio of 36.13, a P/E/G ratio of 4.97 and a beta of 1.17. The stock’s 50-day simple moving average is $193.45 and its 200-day simple moving average is $187.28.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the company posted $2.75 earnings per share. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, equities analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a dividend yield of 1.82%. Analog Devices’s dividend payout ratio is currently 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.