Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,310 shares of the semiconductor company’s stock after selling 7,675 shares during the period. Amalgamated Bank’s holdings in Analog Devices were worth $24,286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ADI. Pinnacle Bancorp Inc. increased its position in Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in Analog Devices during the third quarter worth about $29,000. Cetera Trust Company N.A purchased a new position in shares of Analog Devices in the fourth quarter valued at approximately $29,000. Northwest Capital Management Inc boosted its stake in shares of Analog Devices by 519.2% in the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 135 shares during the period. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Analog Devices in the fourth quarter valued at approximately $32,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Price Performance

Shares of ADI traded up $3.14 on Friday, reaching $199.63. The stock had a trading volume of 2,372,577 shares, compared to its average volume of 3,355,053. The firm has a market capitalization of $99.00 billion, a PE ratio of 35.71, a PEG ratio of 4.86 and a beta of 1.14. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $194.08 and a 200 day moving average of $187.97. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results 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 business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The company’s revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.75 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is 65.83%.

Wall Street Analysts Forecast Growth

ADI has been the subject of several recent research reports. Sanford C. Bernstein lowered shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research note on Thursday, January 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a research note on Monday, March 4th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a research report on Thursday, February 22nd. Finally, KeyCorp raised their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently 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, Director James Champy sold 1,228 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,707 shares of company stock worth $4,874,613. 0.31% of the stock is owned by insiders.

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.