Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Patriot Investment Management Group Inc.

Patriot Investment Management Group Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,911 shares of the semiconductor company’s stock after selling 391 shares during the period. Patriot Investment Management Group Inc.’s holdings in Analog Devices were worth $618,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ADI. Grove Bank & Trust increased its holdings in Analog Devices by 3.1% in the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares during the last quarter. Quotient Wealth Partners LLC lifted its stake in Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after purchasing an additional 48 shares during the last quarter. Bank of Hawaii boosted its holdings in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 48 shares in the last quarter. MONECO Advisors LLC boosted its holdings in shares of Analog Devices by 2.8% in the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after buying an additional 50 shares in the last quarter. Finally, DT Investment Partners LLC lifted its position in Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after acquiring an additional 51 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock valued at $11,029,300. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

ADI has been the topic of a number of recent research reports. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler decreased their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Truist Financial upped their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Trading Up 1.9 %

Shares of ADI stock opened at $228.35 on Friday. The firm has a market capitalization of $113.30 billion, a PE ratio of 69.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. 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 moving average of $215.88 and a two-hundred day moving average of $222.34.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued 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 1.61%. Analog Devices’s dividend payout ratio is 111.85%.

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.