Adell Harriman & Carpenter Inc. Reduces Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Adell Harriman & Carpenter Inc. lowered its position in Analog Devices, Inc. (NASDAQ:ADI) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,020 shares of the semiconductor company’s stock after selling 200 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Analog Devices were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ADI. State Street Corp lifted its position in Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after buying an additional 106,664 shares during the last quarter. Geode Capital Management LLC lifted its position in Analog Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after buying an additional 135,838 shares during the last quarter. Franklin Resources Inc. lifted its position in Analog Devices by 14.9% in the third 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 last quarter. FMR LLC lifted its position in Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after buying an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Analog Devices by 4.8% in the fourth quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after buying an additional 226,716 shares during 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 $214.61 on Friday. The firm has a market capitalization of $106.47 billion, a P/E ratio of 65.23, a P/E/G ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. 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 firm’s 50 day moving average is $214.04 and its two-hundred day moving average is $219.71.

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, topping analysts’ consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $2.01 earnings per share. Research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given 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 1.71%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. TD Cowen reduced 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 report on Wednesday, November 27th. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price target on the stock. Benchmark assumed coverage on shares of Analog Devices in a research report on Friday. They set a “buy” rating and a $245.00 price target on the stock. Morgan Stanley reduced their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Truist Financial increased their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.52.

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.