Northcape Wealth Management LLC Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Northcape Wealth Management LLC lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,639 shares of the semiconductor company’s stock after selling 227 shares during the period. Analog Devices accounts for approximately 1.1% of Northcape Wealth Management LLC’s portfolio, making the stock its 25th largest position. Northcape Wealth Management LLC’s holdings in Analog Devices were worth $3,105,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ADI. Certuity LLC purchased a new position in Analog Devices in the fourth quarter valued at approximately $204,000. Norden Group LLC grew its position in shares of Analog Devices by 20.7% in the 4th quarter. Norden Group LLC now owns 1,657 shares of the semiconductor company’s stock valued at $329,000 after buying an additional 284 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its position in Analog Devices by 15.9% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 11,697 shares of the semiconductor company’s stock valued at $2,323,000 after acquiring an additional 1,608 shares during the last quarter. Ledyard National Bank lifted its position in Analog Devices by 39.8% in the fourth quarter. Ledyard National Bank now owns 3,431 shares of the semiconductor company’s stock valued at $681,000 after acquiring an additional 977 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Analog Devices by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 2,890,824 shares of the semiconductor company’s stock valued at $574,002,000 after acquiring an additional 358,697 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

Shares of ADI traded down $3.29 on Tuesday, reaching $200.61. The stock had a trading volume of 2,668,447 shares, compared to its average volume of 3,372,008. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20. The firm has a market capitalization of $99.48 billion, a PE ratio of 36.48, a PEG ratio of 5.07 and a beta of 1.17. The firm has a 50-day moving average of $193.76 and a 200 day moving average of $187.66. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the company earned $2.75 earnings per share. Analog Devices’s revenue was down 22.7% compared to the same quarter last year. Sell-side analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a report on Monday, March 4th. Truist Financial reduced their price objective on Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a research report on Thursday, January 18th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $212.00 price objective on shares of Analog Devices in a research report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total value of $1,921,100.00. Following the transaction, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now owns 5,713 shares in the company, valued at $1,097,524.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock valued at $4,825,113 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

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.