abrdn plc Has $165.57 Million Holdings in Analog Devices, Inc. (NASDAQ:ADI)

abrdn plc cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 44.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 833,846 shares of the semiconductor company’s stock after selling 661,843 shares during the period. abrdn plc owned 0.17% of Analog Devices worth $165,568,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CTC Alternative Strategies Ltd. acquired a new stake in Analog Devices during the fourth quarter worth approximately $1,152,000. Sequoia Financial Advisors LLC increased its holdings in shares of Analog Devices by 107.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock worth $2,515,000 after purchasing an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in shares of Analog Devices by 37.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock worth $1,612,000 after purchasing an additional 2,215 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Analog Devices by 4.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after purchasing an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Analog Devices by 31.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after purchasing an additional 89,504 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Trading Down 2.2 %

Shares of NASDAQ:ADI traded down $4.22 during mid-day trading on Friday, reaching $183.36. 4,081,783 shares of the company’s stock were exchanged, compared to its average volume of 2,613,445. The firm has a market capitalization of $90.93 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 4.71 and a beta of 1.17. The business’s fifty day moving average price is $192.82 and its 200-day moving average price is $186.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $204.20.

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

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 2.01%. Analog Devices’s payout ratio is presently 65.83%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADI. Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday. They set an “outperform” rating and a $254.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. The Goldman Sachs Group lifted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. KeyCorp lifted their price objective on shares of Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $208.17.

Insider Activity at Analog Devices

In related news, Director James Champy sold 1,228 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Analog Devices news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the completion of the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,825,113 over the last quarter. Company insiders own 0.31% of the company’s stock.

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.