Legato Capital Management LLC Sells 8,048 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Legato Capital Management LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 34.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,056 shares of the semiconductor company’s stock after selling 8,048 shares during the period. Legato Capital Management LLC’s holdings in Analog Devices were worth $3,199,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the third quarter valued at approximately $28,000. Archer Investment Corp lifted its holdings 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 buying an additional 73 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices in the 4th quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices in the third quarter valued at about $43,000. Finally, Reston Wealth Management LLC bought a new position in shares of Analog Devices during the third quarter worth about $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ADI shares. Morgan Stanley decreased their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. 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, January 17th. Wells Fargo & Company began coverage on Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Truist Financial upped their target price on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Finally, Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” 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 issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Trading Down 0.7 %

ADI opened at $203.46 on Wednesday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The firm has a market capitalization of $100.94 billion, a PE ratio of 61.84, a P/E/G ratio of 2.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company’s 50-day moving average is $214.48 and its 200 day moving average is $219.98.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.01 earnings per share. As a group, research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is 111.85%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s 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 approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% 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.