Confluence Investment Management LLC Sells 7,459 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Confluence Investment Management LLC lowered its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 643,987 shares of the semiconductor company's stock after selling 7,459 shares during the period. Analog Devices accounts for 1.9% of Confluence Investment Management LLC's investment portfolio, making the stock its 13th largest holding. Confluence Investment Management LLC owned 0.13% of Analog Devices worth $136,821,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in Analog Devices during the 3rd quarter worth $28,000. Archer Investment Corp boosted its holdings in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Trifecta Capital Advisors LLC increased its position in Analog Devices by 544.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 158 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Analog Devices during the 3rd quarter worth approximately $43,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Analog Devices in the 3rd quarter valued at approximately $48,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

NASDAQ:ADI traded down $1.11 during trading hours on Thursday, reaching $211.35. 2,378,485 shares of the stock were exchanged, compared to its average volume of 3,211,734. Analog Devices, Inc. has a 52 week low of $181.80 and a 52 week 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. The stock has a market capitalization of $104.89 billion, a P/E ratio of 64.24, a P/E/G ratio of 2.47 and a beta of 1.05. The firm has a 50 day simple moving average of $217.91 and a 200-day simple moving average of $223.59.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The firm's revenue was down 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

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 of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.74%. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Analysts Set New Price Targets

Several research firms have issued reports on ADI. Truist Financial cut their price objective on Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company 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. Cantor Fitzgerald restated a "neutral" rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Finally, TD Cowen lowered their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Analog Devices has an average rating of "Moderate Buy" and an average price target of $249.33.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices 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 completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock worth $8,874,400. Company insiders own 0.31% of the company's stock.

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.