Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by Swedbank AB

Swedbank AB grew its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 16.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,381,836 shares of the semiconductor company’s stock after buying an additional 487,727 shares during the quarter. Analog Devices makes up 0.9% of Swedbank AB’s holdings, making the stock its 21st biggest holding. Swedbank AB’s holdings in Analog Devices were worth $718,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ADI. Iams Wealth Management LLC lifted its position in Analog Devices by 2.2% during the fourth quarter. Iams Wealth Management LLC now owns 5,698 shares of the semiconductor company’s stock valued at $1,211,000 after buying an additional 125 shares in the last quarter. BSW Wealth Partners lifted its stake in shares of Analog Devices by 10.4% during the fourth quarter. BSW Wealth Partners now owns 1,288 shares of the semiconductor company’s stock worth $274,000 after purchasing an additional 121 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Analog Devices by 10.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 5,695 shares of the semiconductor company’s stock valued at $1,210,000 after buying an additional 536 shares in the last quarter. Perigon Wealth Management LLC lifted its position in Analog Devices by 7.4% during the 4th quarter. Perigon Wealth Management LLC now owns 3,753 shares of the semiconductor company’s stock worth $807,000 after acquiring an additional 259 shares in the last quarter. Finally, Curbstone Financial Management Corp acquired a new stake in Analog Devices in the fourth quarter valued at approximately $460,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Performance

ADI traded up $1.63 during trading on Wednesday, reaching $211.15. 226,830 shares of the company were exchanged, compared to its average volume of 3,196,406. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a market cap of $104.76 billion, a P/E ratio of 64.28, a PEG ratio of 2.57 and a beta of 1.05. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The firm has a 50 day moving average of $216.52 and a 200 day moving average of $221.75.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 EPS. On average, sell-side analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price for the company. Barclays reduced their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $248.70.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 in the last three months. 0.31% of the stock is owned by company insiders.

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.