Campbell Newman Asset Management Inc. Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Campbell Newman Asset Management Inc. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,442 shares of the semiconductor company's stock after selling 13,068 shares during the period. Analog Devices accounts for approximately 3.4% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 5th largest holding. Campbell Newman Asset Management Inc.'s holdings in Analog Devices were worth $42,373,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the 3rd quarter valued at $28,000. Archer Investment Corp boosted its holdings 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. purchased a new stake in Analog Devices during the third quarter valued at about $43,000. Reston Wealth Management LLC acquired a new stake in Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Analog Devices in the 3rd quarter worth about $80,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $3.57 during midday trading on Wednesday, hitting $218.22. The company's stock had a trading volume of 3,272,573 shares, compared to its average volume of 3,005,686. 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 firm's fifty day moving average price is $216.19 and its 200-day moving average price is $222.69. The firm has a market cap of $108.30 billion, a P/E ratio of 66.33, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results 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%. Analog Devices's quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 earnings per share. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, December 9th. Analog Devices's payout ratio is 111.85%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler reduced 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 report on Wednesday, November 27th. Truist Financial increased their price target on Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a report on Friday, January 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Cantor Fitzgerald reiterated a "neutral" rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, TD Cowen lowered their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $249.48.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 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 $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by company 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.