Chevy Chase Trust Holdings LLC Lowers Position in Analog Devices, Inc. (NASDAQ:ADI)

Chevy Chase Trust Holdings LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,043 shares of the semiconductor company’s stock after selling 5,410 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Analog Devices were worth $55,461,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ADI. Raymond James & Associates boosted its position in Analog Devices by 153.6% in the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after purchasing an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. lifted 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 buying an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Analog Devices by 23,792.4% during the 3rd 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Analog Devices by 807.5% during the 3rd 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 buying an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Analog Devices by 336.4% during the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after buying an additional 823,709 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of Analog Devices stock opened at $209.34 on Friday. The business has a 50-day moving average of $214.22 and a 200 day moving average of $219.87. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The stock has a market capitalization of $103.86 billion, a price-to-earnings ratio of 63.63, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business posted $2.01 EPS. Analog Devices’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current 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 issued a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Monday, December 9th. Analog Devices’s dividend payout ratio (DPR) is 111.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. 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 report on Wednesday, November 27th. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Truist Financial increased their price objective on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Piper Sandler reduced their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.52.

Insider Activity at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.