Analog Devices, Inc. (NASDAQ:ADI) Stock Position Reduced by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,087 shares of the semiconductor company’s stock after selling 7,136 shares during the quarter. Analog Devices makes up approximately 1.1% of Bartlett & CO. Wealth Management LLC’s holdings, making the stock its 29th largest position. Bartlett & CO. Wealth Management LLC owned 0.07% of Analog Devices worth $73,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in shares of Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. Geode Capital Management LLC grew its stake in Analog Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock worth $2,377,094,000 after buying an additional 135,838 shares during the last quarter. Franklin Resources Inc. increased its position in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the period. FMR LLC boosted its holdings in shares of Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after acquiring an additional 665,149 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock worth $1,078,617,000 after acquiring an additional 700,862 shares during the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Analog Devices

In other news, EVP Gregory M. Bryant sold 20,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $11,029,300 over the last quarter. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of a number of analyst reports. Barclays reduced their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Morgan Stanley decreased their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Finally, Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Trading Up 1.2 %

NASDAQ:ADI opened at $224.08 on Thursday. The stock has a fifty day simple moving average of $215.66 and a 200 day simple moving average of $222.33. The firm has a market capitalization of $111.18 billion, a price-to-earnings ratio of 68.11, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced 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. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the company posted $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Announces Dividend

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

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.