Cerro Pacific Wealth Advisors LLC Acquires 188 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Cerro Pacific Wealth Advisors LLC boosted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 3.3% during the fourth quarter, HoldingsChannel reports. The fund owned 5,830 shares of the semiconductor company’s stock after purchasing an additional 188 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Analog Devices were worth $1,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mutual Advisors LLC increased its position in Analog Devices by 8.6% during the 4th quarter. Mutual Advisors LLC now owns 2,060 shares of the semiconductor company’s stock valued at $443,000 after purchasing an additional 164 shares during the period. True North Advisors LLC increased its position in shares of Analog Devices by 143.1% during the fourth quarter. True North Advisors LLC now owns 2,173 shares of the semiconductor company’s stock worth $462,000 after buying an additional 1,279 shares during the period. Janney Montgomery Scott LLC raised its stake in Analog Devices by 2.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 105,784 shares of the semiconductor company’s stock worth $22,475,000 after buying an additional 2,048 shares during the last quarter. Paradiem LLC lifted its holdings in Analog Devices by 7.7% in the fourth quarter. Paradiem LLC now owns 56,113 shares of the semiconductor company’s stock valued at $11,922,000 after buying an additional 4,034 shares during the period. Finally, Advisory Alpha LLC boosted its position in Analog Devices by 46.2% during the fourth quarter. Advisory Alpha LLC now owns 1,288 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 407 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADI has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company assumed coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. TD Cowen reduced 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. Truist Financial boosted their target price on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Finally, Morgan Stanley reduced 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. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Price Performance

ADI opened at $228.35 on Friday. The firm’s fifty day moving average price is $215.88 and its two-hundred day moving average price is $222.34. The company has a market capitalization of $113.30 billion, a price-to-earnings ratio of 69.41, a P/E/G ratio of 2.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced 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 return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $2.01 EPS. The company’s revenue was down 10.1% compared to the same quarter last year. As a group, analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.61%. Analog Devices’s payout ratio is currently 111.85%.

Insider Buying and Selling

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the firm’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 $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, 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. Over the last 90 days, insiders sold 50,000 shares of company stock worth $11,029,300. 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.