Geneos Wealth Management Inc. Has $298,000 Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Geneos Wealth Management Inc. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,503 shares of the semiconductor company’s stock after selling 240 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Analog Devices were worth $298,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Analog Devices by 1.2% during the first quarter. State Street Corp now owns 20,404,008 shares of the semiconductor company’s stock worth $4,024,078,000 after buying an additional 238,249 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Analog Devices by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares during the period. Invesco Ltd. increased its position in shares of Analog Devices by 7.5% during the third quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock worth $1,751,475,000 after buying an additional 701,367 shares during the period. Norges Bank acquired a new stake in shares of Analog Devices during the fourth quarter worth $1,040,194,000. Finally, Morgan Stanley increased its position in shares of Analog Devices by 16.1% during the fourth quarter. Morgan Stanley now owns 5,988,806 shares of the semiconductor company’s stock worth $982,344,000 after buying an additional 830,281 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADI. The Goldman Sachs Group raised their price target on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. 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 report on Thursday, February 22nd. Sanford C. Bernstein cut shares of Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target for the company. in a report on Thursday, January 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Finally, Barclays raised their price target on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $206.26.

Analog Devices Stock Down 3.2 %

ADI opened at $192.27 on Friday. 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 company’s 50-day moving average is $193.24 and its 200 day moving average is $186.14. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The firm has a market capitalization of $95.35 billion, a P/E ratio of 34.40, a PEG ratio of 4.98 and a beta of 1.17.

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, beating analysts’ consensus estimates of $1.71 by $0.02. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm earned $2.75 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.91%. Analog Devices’s payout ratio is currently 65.83%.

Insiders Place Their Bets

In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated 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 owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total value of $1,921,100.00. Following the sale, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,707 shares of company stock valued at $4,825,113. Company insiders own 0.31% of the company’s stock.

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.