Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,488 shares of the semiconductor company’s stock after selling 102 shares during the period. Cornerstone Wealth Management LLC’s holdings in Analog Devices were worth $529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the 3rd quarter worth approximately $28,000. Archer Investment Corp raised its holdings in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Analog Devices in the third quarter valued at $43,000. Reston Wealth Management LLC acquired a new stake in shares of Analog Devices during the third quarter valued at $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Analog Devices during the 3rd quarter worth about $80,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $11,029,300. Corporate insiders own 0.31% of the company’s stock.

Analog Devices Stock Performance

NASDAQ:ADI opened at $217.37 on Friday. The firm’s fifty day simple moving average is $216.42 and its 200 day simple moving average is $222.27. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The firm has a market capitalization of $107.85 billion, a price-to-earnings ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm posted $2.01 earnings per share. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed 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 was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.69%. Analog Devices’s dividend payout ratio is currently 111.85%.

Analyst Ratings Changes

Several research firms have issued reports on ADI. Morgan Stanley decreased their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Piper Sandler decreased their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

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.