Flagship Harbor Advisors LLC Sells 1,835 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Flagship Harbor Advisors LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 27.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,744 shares of the semiconductor company’s stock after selling 1,835 shares during the period. Flagship Harbor Advisors LLC’s holdings in Analog Devices were worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of recent research reports. Morgan Stanley cut their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Barclays dropped their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $215.42 on Tuesday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The stock has a fifty day simple moving average of $216.42 and a two-hundred day simple moving average of $222.09. The firm has a market cap of $106.88 billion, a price-to-earnings ratio of 65.48, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. 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 (NASDAQ:ADI) last posted its quarterly earnings results 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 firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last 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. Analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently 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.