Sentry Investment Management LLC Cuts Position in Analog Devices, Inc. (NASDAQ:ADI)

Sentry Investment Management LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,629 shares of the semiconductor company’s stock after selling 282 shares during the quarter. Sentry Investment Management LLC’s holdings in Analog Devices were worth $522,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its position in shares of Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of Analog Devices during the third quarter valued at $29,000. Fortis Capital Advisors LLC purchased a new stake in shares of Analog Devices during the first quarter valued at $31,000. Quarry LP increased its position in shares of Analog Devices by 267.4% in the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 123 shares during the period. Finally, Worth Asset Management LLC purchased a new position in Analog Devices in the 1st quarter worth $33,000. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 1.0 %

NASDAQ ADI opened at $190.29 on Tuesday. The company’s fifty day simple moving average is $193.20 and its 200-day simple moving average is $186.33. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The stock has a market cap of $94.37 billion, a P/E ratio of 34.04, a PEG ratio of 4.82 and a beta of 1.17.

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

Analog Devices Increases Dividend

The business also recently announced 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 yield of 1.93%. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio is currently 65.83%.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders sold 24,707 shares of company stock worth $4,825,113 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Sanford C. Bernstein downgraded 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 research report on Thursday, January 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 target price on the stock in a research note on Thursday, January 18th. Evercore ISI started coverage on shares of Analog Devices in a report on Tuesday. They issued an “outperform” rating and a $254.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

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.