Castellan Group Lowers Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Castellan Group reduced its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,952 shares of the semiconductor company’s stock after selling 1,129 shares during the quarter. Castellan Group’s holdings in Analog Devices were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares during the period. Franklin Resources Inc. raised its stake in shares of Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after acquiring an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Analog Devices by 807.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares during the period. Finally, Holocene Advisors LP increased its holdings in Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices Price Performance

Shares of ADI opened at $205.13 on Thursday. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market cap of $101.77 billion, a price-to-earnings ratio of 62.35, a PEG ratio of 2.38 and a beta of 1.04. The stock has a 50 day moving average of $214.48 and a 200-day moving average of $219.98.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period last year, the business posted $2.01 earnings per share. As a group, analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

Analyst Ratings Changes

A number of research analysts have commented on ADI shares. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Truist Financial increased their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company began coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

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.