Janney Capital Management LLC Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Janney Capital Management LLC cut its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,834 shares of the semiconductor company’s stock after selling 198 shares during the period. Janney Capital Management LLC’s holdings in Analog Devices were worth $1,665,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ADI. Thrivent Financial for Lutherans boosted its stake in Analog Devices by 9.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 24,754 shares of the semiconductor company’s stock worth $5,651,000 after buying an additional 2,216 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Analog Devices by 15.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,672 shares of the semiconductor company’s stock worth $387,000 after acquiring an additional 223 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Analog Devices by 68.2% in the second quarter. Public Sector Pension Investment Board now owns 19,012 shares of the semiconductor company’s stock worth $4,340,000 after acquiring an additional 7,710 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Analog Devices by 13.8% in the second quarter. Evergreen Capital Management LLC now owns 4,570 shares of the semiconductor company’s stock valued at $1,043,000 after purchasing an additional 553 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Analog Devices by 59.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,993 shares of the semiconductor company’s stock worth $21,683,000 after purchasing an additional 35,543 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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 report on Friday, January 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. TD Cowen dropped their price target 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. Wells Fargo & Company started coverage on Analog Devices in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Finally, Truist Financial increased their target price 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 research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Stock Up 1.2 %

ADI stock opened at $224.08 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $215.66 and a 200-day simple moving average of $222.33. The company has a market capitalization 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, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data 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. The company had revenue of $2.44 billion during 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 firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the business earned $2.01 EPS. On average, equities research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders 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 annualized dividend and a dividend yield of 1.64%. Analog Devices’s payout ratio is 111.85%.

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is currently owned by 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.