Analog Devices, Inc. (NASDAQ:ADI) Stock Position Trimmed by Janney Capital Management LLC

Janney Capital Management LLC trimmed its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,834 shares of the semiconductor company’s stock after selling 198 shares during the period. Janney Capital Management LLC’s holdings in Analog Devices were worth $1,665,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in Analog Devices by 9.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 24,754 shares of the semiconductor company’s stock worth $5,651,000 after buying an additional 2,216 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Analog Devices by 15.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,672 shares of the semiconductor company’s stock worth $387,000 after purchasing an additional 223 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Analog Devices by 68.2% during the second quarter. Public Sector Pension Investment Board now owns 19,012 shares of the semiconductor company’s stock valued at $4,340,000 after purchasing an additional 7,710 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Analog Devices by 13.8% during the second quarter. Evergreen Capital Management LLC now owns 4,570 shares of the semiconductor company’s stock valued at $1,043,000 after purchasing an additional 553 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Analog Devices by 59.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,993 shares of the semiconductor company’s stock worth $21,683,000 after purchasing an additional 35,543 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Up 1.2 %

Analog Devices stock opened at $224.08 on Thursday. The company has a 50 day moving average price of $215.66 and a 200 day moving average price of $222.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The firm has a market capitalization of $111.18 billion, a price-to-earnings ratio of 68.11, a P/E/G ratio of 2.51 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion during 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%. Analog Devices’s revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. TD Cowen dropped their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Truist Financial upped their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler cut their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by company insiders.

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.