Point72 Europe London LLP Sells 37,345 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Point72 Europe London LLP trimmed its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 32.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 76,300 shares of the semiconductor company’s stock after selling 37,345 shares during the period. Point72 Europe London LLP’s holdings in Analog Devices were worth $16,211,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company’s stock valued at $10,432,961,000 after purchasing an additional 413,084 shares during the period. Geode Capital Management LLC boosted its stake in shares of Analog Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company’s stock valued at $2,248,971,000 after purchasing an additional 247,737 shares in the last quarter. Norges Bank purchased a new stake in shares of Analog Devices during the fourth quarter worth about $1,755,958,000. FMR LLC raised its holdings in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company’s stock worth $1,582,831,000 after purchasing an additional 61,390 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Analog Devices by 8.4% in the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company’s stock worth $1,173,026,000 after buying an additional 427,328 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Up 0.1%

Shares of ADI opened at $226.82 on Thursday. The stock has a market cap of $112.50 billion, a PE ratio of 72.24, a P/E/G ratio of 2.85 and a beta of 0.98. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.10. The business’s 50-day moving average price is $196.01 and its 200-day moving average price is $210.63. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.75%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. Analog Devices’s dividend payout ratio (DPR) is presently 126.11%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. The trade was a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 12,684 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the sale, the executive vice president now owns 43,175 shares of the company’s stock, valued at $9,066,750. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock worth $8,735,156 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They issued a “buy” rating on the stock. Seaport Res Ptn upgraded Analog Devices to a “strong sell” rating in a report on Wednesday, April 30th. Truist Financial upped their price target on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Barclays dropped their price target on Analog Devices from $240.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley set a $214.00 price objective on Analog Devices in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $250.20.

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.