Analog Devices, Inc. (NASDAQ:ADI) is Cannell & Co.’s 10th Largest Position

Cannell & Co. decreased its stake in Analog Devices, Inc. (NASDAQ:ADI) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 331,077 shares of the semiconductor company’s stock after selling 29,178 shares during the quarter. Analog Devices comprises 2.1% of Cannell & Co.’s portfolio, making the stock its 10th biggest holding. Cannell & Co.’s holdings in Analog Devices were worth $65,739,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CTC Alternative Strategies Ltd. purchased a new position in Analog Devices during the 4th quarter valued at $1,152,000. Sequoia Financial Advisors LLC boosted its holdings in Analog Devices by 107.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after acquiring an additional 6,564 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in Analog Devices by 37.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after acquiring an additional 2,215 shares during the period. Daiwa Securities Group Inc. raised its position in Analog Devices by 4.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Analog Devices by 31.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after purchasing an additional 89,504 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at $1,134,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value 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. Over the last 90 days, insiders sold 24,707 shares of company stock valued at $4,825,113. 0.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADI. KeyCorp lifted their target price on Analog Devices from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Sanford C. Bernstein lowered Analog Devices from an “outperform” rating to a “market perform” rating and set a $200.00 price target for the company. in a research report on Thursday, January 4th. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Finally, Truist Financial reduced their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.17.

Analog Devices Price Performance

Shares of Analog Devices stock traded down $5.63 during mid-day trading on Wednesday, reaching $194.98. 796,930 shares of the stock traded hands, compared to its average volume of 3,339,547. The business has a 50-day moving average of $193.99 and a 200 day moving average of $187.86. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The stock has a market capitalization of $96.69 billion, a PE ratio of 35.89, a PEG ratio of 5.12 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

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.