Bahl & Gaynor Inc. Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bahl & Gaynor Inc. trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 282,478 shares of the semiconductor company’s stock after selling 1,479 shares during the period. Bahl & Gaynor Inc.’s holdings in Analog Devices were worth $56,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ADI. Massachusetts Financial Services Co. MA increased its stake in Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after purchasing an additional 2,497,696 shares in the last quarter. Nordea Investment Management AB grew its holdings in Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock valued at $303,591,000 after buying an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock valued at $1,857,060,000 after buying an additional 930,732 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its holdings in Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock valued at $233,308,000 after buying an additional 775,000 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Analog Devices by 7.5% during the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after buying an additional 701,367 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Analog Devices Trading Up 2.0 %

NASDAQ:ADI opened at $201.97 on Friday. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The firm has a market capitalization of $100.16 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 4.97 and a beta of 1.17. 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 business’s 50-day moving average is $193.45 and its two-hundred day moving average is $187.28.

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

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, March 4th. Analog Devices’s payout ratio is presently 65.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI assumed coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a report on Thursday, April 11th. Truist Financial lowered their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. The Goldman Sachs Group increased their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, KeyCorp raised their price objective on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of 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. Over the last ninety days, insiders have sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is currently 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.