Hunter Perkins Capital Management LLC Cuts Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Hunter Perkins Capital Management LLC cut its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,806 shares of the semiconductor company's stock after selling 1,880 shares during the quarter. Analog Devices makes up approximately 2.5% of Hunter Perkins Capital Management LLC's investment portfolio, making the stock its 12th largest holding. Hunter Perkins Capital Management LLC's holdings in Analog Devices were worth $12,069,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices during the third quarter valued at about $28,000. Archer Investment Corp grew its position in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 73 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Analog Devices during the 3rd quarter valued at approximately $43,000. Reston Wealth Management LLC purchased a new position in shares of Analog Devices in the third quarter worth $48,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Analog Devices during the third quarter valued at $80,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

ADI has been the subject of a number of research analyst reports. Truist Financial raised their target price on Analog Devices from $216.00 to $230.00 and gave the stock a "hold" rating in a research note on Friday, January 10th. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 target price for the company. Morgan Stanley cut their price target on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a report on Wednesday, November 27th. TD Cowen dropped their price objective 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. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $248.70.

Analog Devices Price Performance

Shares of NASDAQ ADI traded down $1.95 during mid-day trading on Monday, reaching $215.42. The company's stock had a trading volume of 7,085,097 shares, compared to its average volume of 3,354,911. The stock has a market capitalization of $106.88 billion, a P/E ratio of 65.48, a P/E/G ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The stock has a 50-day moving average of $216.42 and a two-hundred day moving average of $222.09. 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 (NASDAQ:ADI - Get Free Report) last released 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 business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the company posted $2.01 EPS. The business's revenue was down 10.1% on a year-over-year basis. On average, equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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 dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the business's stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction dated 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 directly owns 21,983 shares in the company, valued at $4,737,116.67. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 in the last quarter. 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.