Allspring Global Investments Holdings LLC Sells 225,983 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Allspring Global Investments Holdings LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 39.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 342,884 shares of the semiconductor company’s stock after selling 225,983 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Analog Devices worth $72,491,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices in the third quarter valued at $28,000. Archer Investment Corp lifted its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 73 shares during the last quarter. Financial Life Planners bought a new position in shares of Analog Devices in the 4th quarter valued at about $33,000. Peterson Financial Group Inc. acquired a new position in shares of Analog Devices during the 3rd quarter worth about $43,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Analog Devices in the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analog Devices Trading Up 0.8 %

ADI opened at $205.13 on Thursday. The stock has a market capitalization of $101.77 billion, a price-to-earnings ratio of 62.35, a P/E/G ratio of 2.38 and a beta of 1.04. 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, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a 50-day simple moving average of $214.48 and a 200 day simple moving average of $219.98.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (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 business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the business posted $2.01 EPS. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts predict that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.79%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analysts Set New Price Targets

A number of research firms recently commented on ADI. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target for the company. TD Cowen decreased their price objective on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley cut their target price on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.70.

Analog Devices 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.