Rhumbline Advisers Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Rhumbline Advisers cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942,380 shares of the semiconductor company’s stock after selling 6,086 shares during the quarter. Rhumbline Advisers owned 0.19% of Analog Devices worth $200,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. PUREfi Wealth LLC purchased a new position in Analog Devices in the fourth quarter valued at about $438,000. Valeo Financial Advisors LLC grew its holdings in shares of Analog Devices by 2.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 4,658 shares of the semiconductor company’s stock worth $990,000 after acquiring an additional 110 shares during the period. Asset Management One Co. Ltd. increased its stake in Analog Devices by 0.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 197,094 shares of the semiconductor company’s stock valued at $42,767,000 after purchasing an additional 590 shares in the last quarter. Avestar Capital LLC raised its holdings in Analog Devices by 9.9% during the fourth quarter. Avestar Capital LLC now owns 4,156 shares of the semiconductor company’s stock worth $883,000 after purchasing an additional 375 shares during the last quarter. Finally, Consolidated Planning Corp boosted its position in Analog Devices by 203.1% during the fourth quarter. Consolidated Planning Corp now owns 8,376 shares of the semiconductor company’s stock worth $1,780,000 after purchasing an additional 5,613 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analog Devices Trading Up 2.5 %

NASDAQ ADI opened at $214.61 on Friday. The company has a market cap of $106.47 billion, a P/E ratio of 65.23, a P/E/G ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The company has a 50-day moving average of $214.11 and a 200-day moving average of $219.80.

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

Analog Devices Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders 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 yield of 1.71%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research analyst reports. Benchmark started coverage on Analog Devices in a research report on Friday. They issued a “buy” rating and a $245.00 price target for the company. 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 for the company. TD Cowen reduced their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.52.

Analog Devices 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.