Wendell David Associates Inc. Sells 690 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wendell David Associates Inc. decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,146 shares of the semiconductor company’s stock after selling 690 shares during the period. Wendell David Associates Inc.’s holdings in Analog Devices were worth $3,005,000 as of its most recent SEC filing.

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

Analog Devices Stock Up 1.2 %

Shares of Analog Devices stock opened at $224.08 on Thursday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. The firm’s 50 day moving average price is $215.66 and its 200-day moving average price is $222.33. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $111.18 billion, a P/E ratio of 68.11, a PEG ratio of 2.51 and a beta of 1.05.

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

Analog Devices Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on ADI shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Piper Sandler lowered their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley decreased their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Finally, Barclays lowered their target price on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices 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 $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices 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 completion of the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $11,029,300. 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.