SouthState Corp Sells 100 Shares of Analog Devices, Inc. (NASDAQ:ADI)

SouthState Corp decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 36.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 175 shares of the semiconductor company’s stock after selling 100 shares during the quarter. SouthState Corp’s holdings in Analog Devices were worth $35,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Running Oak Capital LLC grew its holdings in shares of Analog Devices by 16.1% in the 4th quarter. Running Oak Capital LLC now owns 47,717 shares of the semiconductor company’s stock worth $9,475,000 after purchasing an additional 6,611 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Analog Devices by 49.4% in the 4th quarter. Natixis Advisors L.P. now owns 633,228 shares of the semiconductor company’s stock worth $125,733,000 after purchasing an additional 209,445 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Analog Devices by 2.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 299,938 shares of the semiconductor company’s stock worth $59,556,000 after purchasing an additional 7,497 shares during the last quarter. LGT Fund Management Co Ltd. grew its holdings in shares of Analog Devices by 25.0% in the 4th quarter. LGT Fund Management Co Ltd. now owns 10,000 shares of the semiconductor company’s stock worth $2,002,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Heritage Wealth Management LLC bought a new stake in shares of Analog Devices in the 4th quarter worth about $2,039,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $199.63 on Friday. The company has a market cap of $99.00 billion, a PE ratio of 35.71, a PEG ratio of 5.01 and a beta of 1.14. The company’s 50-day moving average is $194.27 and its two-hundred day moving average is $188.15. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period last year, the company posted $2.75 EPS. Equities analysts anticipate that Analog Devices, Inc. will post 5.86 earnings per share for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ADI shares. Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 target price on the stock. Oppenheimer reissued an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a report on Thursday, February 22nd. Truist Financial decreased their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Morgan Stanley reissued an “overweight” rating and set a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Analog Devices news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock worth $4,874,613 in the last ninety days. Company insiders own 0.31% 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.