Professional Advisory Services Inc. Sells 4,138 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Professional Advisory Services Inc. decreased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,160 shares of the semiconductor company's stock after selling 4,138 shares during the period. Analog Devices accounts for 2.0% of Professional Advisory Services Inc.'s investment portfolio, making the stock its 28th biggest holding. Professional Advisory Services Inc.'s holdings in Analog Devices were worth $14,481,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates lifted its position in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock worth $540,463,000 after buying an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. grew 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 valued at $2,169,689,000 after buying an additional 1,189,940 shares during the period. International Assets Investment Management LLC grew its stake in Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock valued at $2,043,000,000 after acquiring an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased 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 purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Analog Devices by 336.4% during the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company's stock worth $245,953,000 after acquiring an additional 823,709 shares during the period. Institutional investors own 86.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial boosted their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the stock a "hold" rating in a research report on Friday, January 10th. Cantor Fitzgerald restated a "neutral" rating and set a $250.00 price objective on shares of Analog Devices in a research note on Tuesday, October 8th. Barclays dropped their target price on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Finally, Morgan Stanley dropped their price objective on Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $247.57.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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 $4,921,334.21. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock worth $11,029,300. Corporate insiders own 0.31% of the company's stock.

Analog Devices Trading Up 1.9 %

Analog Devices stock traded up $4.14 during trading hours on Friday, reaching $219.16. 2,871,098 shares of the company's stock were exchanged, compared to its average volume of 2,463,744. The firm has a market capitalization of $108.77 billion, a PE ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05. 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 firm's 50 day simple moving average is $215.64 and its 200 day simple moving average is $222.56. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is currently 111.85%.

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.