Washington Trust Advisors Inc. Reduces Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Washington Trust Advisors Inc. lowered its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 24.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 251 shares of the semiconductor company’s stock after selling 82 shares during the period. Washington Trust Advisors Inc.’s holdings in Analog Devices were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ADI. Well Done LLC purchased a new stake in Analog Devices in the fourth quarter worth about $220,000. Procyon Advisors LLC increased its holdings in Analog Devices by 13.3% in the 4th quarter. Procyon Advisors LLC now owns 2,318 shares of the semiconductor company’s stock worth $460,000 after buying an additional 272 shares during the period. IFG Advisory LLC grew its stake in shares of Analog Devices by 4.2% during the 4th quarter. IFG Advisory LLC now owns 14,322 shares of the semiconductor company’s stock worth $2,844,000 after purchasing an additional 574 shares during the period. Silverberg Bernstein Capital Management LLC acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $3,634,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Analog Devices by 2,722.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 658,899 shares of the semiconductor company’s stock worth $130,831,000 after purchasing an additional 635,554 shares during the period. Institutional investors own 86.81% of the company’s stock.

Analyst Ratings Changes

ADI has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Truist Financial decreased their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Wolfe Research upgraded Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a report on Thursday, January 18th. The Goldman Sachs Group raised their price objective on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, KeyCorp raised their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.26.

Analog Devices Price Performance

ADI stock traded up $3.90 on Thursday, reaching $197.23. 1,367,351 shares of the company’s stock were exchanged, compared to its average volume of 3,412,459. The stock has a fifty day moving average of $192.77 and a 200-day moving average of $184.40. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $202.77. The firm has a market cap of $97.81 billion, a PE ratio of 34.58, a P/E/G ratio of 4.74 and a beta of 1.17. 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 announced its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, topping 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 quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 earnings per share. As a group, equities analysts predict 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 given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.87%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Insiders Place Their Bets

In other news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the sale, the director now directly owns 6,371 shares in the company, valued at $1,259,164.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $197.07, for a total transaction of $1,970,700.00. Following the transaction, the chief executive officer now directly owns 5,713 shares in the company, valued at $1,125,860.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,228 shares of company stock worth $4,134,502. 0.31% of the stock is owned by corporate insiders.

About Analog Devices

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.