Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by Empirical Finance LLC

Empirical Finance LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,147 shares of the semiconductor company’s stock after selling 223 shares during the period. Empirical Finance LLC’s holdings in Analog Devices were worth $3,643,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. Raymond James & Associates lifted its stake in shares of Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after purchasing an additional 1,422,054 shares during the last quarter. Franklin Resources Inc. raised its holdings in Analog Devices by 14.9% in 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 buying an additional 1,189,940 shares during the period. International Assets Investment Management LLC lifted its position in Analog Devices by 23,792.4% in the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after buying an additional 883,888 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Analog Devices by 807.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock valued at $220,891,000 after acquiring an additional 853,931 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after acquiring an additional 823,709 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Stock Down 1.3 %

Shares of NASDAQ ADI opened at $205.21 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The firm’s 50 day moving average price is $215.21 and its 200 day moving average price is $220.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The firm has a market cap of $101.81 billion, a P/E ratio of 62.37, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

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

Analog Devices Dividend Announcement

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

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADI. Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Wednesday, November 27th. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. TD Cowen cut their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company began coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective for the company. Finally, Barclays cut 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 research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $248.70.

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.