CPC Advisors LLC Has $229,000 Position in Analog Devices, Inc. $ADI

CPC Advisors LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 65.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 933 shares of the semiconductor company’s stock after selling 1,771 shares during the quarter. CPC Advisors LLC’s holdings in Analog Devices were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after buying an additional 761,861 shares in the last quarter. State Street Corp grew its position in Analog Devices by 2.2% during the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after acquiring an additional 506,507 shares during the last quarter. Geode Capital Management LLC increased its holdings in Analog Devices by 5.7% in the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after purchasing an additional 633,425 shares in the last quarter. Norges Bank bought a new position in Analog Devices in the second quarter valued at about $1,803,377,000. Finally, Ameriprise Financial Inc. raised its position in Analog Devices by 6.3% in the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after purchasing an additional 375,207 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BNP Paribas Exane initiated coverage on shares of Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 price target on the stock. KeyCorp lifted their price target on shares of Analog Devices from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday. Robert W. Baird upped their target price on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Analog Devices in a research report on Monday, December 29th. Finally, Truist Financial increased their price target on Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.04.

Insider Activity at Analog Devices

In related news, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the sale, the chief accounting officer owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. This represents a 30.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the transaction, the director directly owned 142,571 shares in the company, valued at approximately $32,821,269.91. The trade was a 2.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 50,419 shares of company stock valued at $13,399,592 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Up 0.8%

ADI stock opened at $296.21 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The company has a market capitalization of $145.04 billion, a price-to-earnings ratio of 64.96, a PEG ratio of 1.62 and a beta of 1.03. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $303.20. The stock has a fifty day moving average of $265.19 and a 200-day moving average of $248.85.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, equities research analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s payout ratio is presently 86.84%.

About Analog Devices

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.