Sterling Investment Counsel LLC Has $202,000 Position in Analog Devices, Inc. (NASDAQ:ADI)

Sterling Investment Counsel LLC cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 72.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 950 shares of the semiconductor company's stock after selling 2,506 shares during the period. Sterling Investment Counsel LLC's holdings in Analog Devices were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. Raymond James & Associates lifted its holdings in Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock worth $540,463,000 after acquiring an additional 1,422,054 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. International Assets Investment Management LLC boosted its position in Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock valued at $2,043,000,000 after purchasing an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company's stock worth $220,891,000 after buying an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP increased its position in Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company's stock worth $245,953,000 after buying an additional 823,709 shares during the period. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 of the company's stock, valued at approximately $4,737,116.67. This represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is currently owned by insiders.

Analog Devices Stock Down 2.7 %

Shares of ADI traded down $5.90 during midday trading on Tuesday, reaching $209.52. 3,747,043 shares of the stock were exchanged, compared to its average volume of 3,375,955. The company has a market cap of $103.95 billion, a price-to-earnings ratio of 63.68, a P/E/G ratio of 2.57 and a beta of 1.05. The firm has a 50 day simple moving average of $216.54 and a 200-day simple moving average of $221.96. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company's revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices's payout ratio is 111.85%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ADI shares. Cantor Fitzgerald restated a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research note on Tuesday, October 8th. Wells Fargo & Company assumed coverage on Analog Devices in a research report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price target for the company. Morgan Stanley lowered their target price 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. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $248.70.

Analog Devices Company 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.