Analog Devices, Inc. (NASDAQ:ADI) Stock Holdings Trimmed by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 529 shares during the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in Analog Devices by 3.3% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 5,830 shares of the semiconductor company’s stock valued at $1,342,000 after acquiring an additional 188 shares during the period. Mutual Advisors LLC grew its holdings in shares of Analog Devices by 8.6% during the fourth quarter. Mutual Advisors LLC now owns 2,060 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 164 shares during the last quarter. True North Advisors LLC raised its position in shares of Analog Devices by 143.1% during the 4th quarter. True North Advisors LLC now owns 2,173 shares of the semiconductor company’s stock worth $462,000 after purchasing an additional 1,279 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Analog Devices by 2.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 105,784 shares of the semiconductor company’s stock worth $22,475,000 after purchasing an additional 2,048 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Stock Down 4.8 %

NASDAQ ADI opened at $217.37 on Friday. The company has a market capitalization of $107.85 billion, a P/E ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company’s 50 day simple moving average is $216.42 and its 200 day simple moving average is $222.27.

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

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders 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 annualized dividend and a yield of 1.69%. Analog Devices’s payout ratio is presently 111.85%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by corporate insiders.

About Analog Devices

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.