Assetmark Inc. Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Assetmark Inc. decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 33.8% in the 4th quarter, HoldingsChannel reports. The firm owned 52,464 shares of the semiconductor company’s stock after selling 26,797 shares during the quarter. Assetmark Inc.’s holdings in Analog Devices were worth $10,417,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ADI. Norges Bank purchased a new position in Analog Devices in the fourth quarter worth approximately $1,225,227,000. Massachusetts Financial Services Co. MA lifted its position in shares of Analog Devices by 22.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock worth $2,428,225,000 after buying an additional 2,497,696 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Analog Devices by 639.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,718,502 shares of the semiconductor company’s stock worth $303,591,000 after buying an additional 1,486,180 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Analog Devices by 20,527.8% during the 4th quarter. International Assets Investment Management LLC now owns 935,266 shares of the semiconductor company’s stock worth $1,857,060,000 after buying an additional 930,732 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its position in shares of Analog Devices by 193.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,175,000 shares of the semiconductor company’s stock worth $233,308,000 after buying an additional 775,000 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Susquehanna lifted their target price on shares of Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a report on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $212.00 price objective on shares of Analog Devices in a research note on Thursday, April 11th. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. boosted their target price on shares of Analog Devices from $220.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Truist Financial boosted their target price on shares of Analog Devices from $222.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Analog Devices presently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Analog Devices Price Performance

Analog Devices stock opened at $242.00 on Thursday. Analog Devices, Inc. has a 12-month low of $154.99 and a 12-month high of $242.00. The stock has a market capitalization of $120.01 billion, a P/E ratio of 42.96, a P/E/G ratio of 5.44 and a beta of 1.14. The firm’s 50-day moving average is $199.12 and its two-hundred day moving average is $192.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s revenue was down 33.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.83 EPS. Equities analysts predict that Analog Devices, Inc. will post 5.85 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.92 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.52%. Analog Devices’s payout ratio is currently 65.83%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at $10,075,098.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director James Champy sold 1,228 shares of Analog Devices stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares in the company, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,874,613 in the last three months. 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.