Venturi Wealth Management LLC Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Venturi Wealth Management LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,009 shares of the semiconductor company’s stock after selling 260 shares during the period. Venturi Wealth Management LLC’s holdings in Analog Devices were worth $995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ADI. Halpern Financial Inc. increased its position in shares of Analog Devices by 331.4% during the third quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 116 shares in the last quarter. Fortis Capital Advisors LLC purchased a new position in Analog Devices during the 1st quarter worth approximately $31,000. Silver Oak Securities Incorporated acquired a new position in Analog Devices during the third quarter worth approximately $29,000. West Tower Group LLC purchased a new stake in Analog Devices in the second quarter valued at approximately $32,000. Finally, Quarry LP boosted its holdings in shares of Analog Devices by 267.4% in the first quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 123 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of ADI stock traded up $0.96 during midday trading on Wednesday, reaching $195.84. 239,617 shares of the company traded hands, compared to its average volume of 3,354,328. The firm’s 50 day simple moving average is $193.13 and its two-hundred day simple moving average is $184.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a market cap of $97.12 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 4.93 and a beta of 1.17. Analog Devices, Inc. has a 1-year low of $154.99 and a 1-year high of $202.77.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were paid a $0.92 dividend. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Analysts Set New Price Targets

Several analysts recently commented on ADI shares. Truist Financial reduced their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Edward Jones raised Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Barclays boosted their price target on Analog Devices from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group increased their price objective on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, 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. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.26.

View Our Latest Research Report on ADI

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The disclosure for this sale can be found here. In the last three months, insiders sold 21,228 shares of company stock worth $4,137,802. Insiders own 0.31% of the company’s stock.

Analog Devices Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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