Federated Hermes Inc. Sells 89,406 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Federated Hermes Inc. trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 57.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,765 shares of the semiconductor company’s stock after selling 89,406 shares during the quarter. Federated Hermes Inc.’s holdings in Analog Devices were worth $13,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in Analog Devices by 22.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,868,437 shares of the semiconductor company’s stock valued at $2,428,225,000 after buying an additional 2,497,696 shares during the last quarter. Invesco Ltd. grew its stake in Analog Devices by 7.5% in the 3rd quarter. Invesco Ltd. now owns 10,003,284 shares of the semiconductor company’s stock valued at $1,751,475,000 after buying an additional 701,367 shares during the last quarter. Baillie Gifford & Co. grew its stake in Analog Devices by 11.7% in the 4th quarter. Baillie Gifford & Co. now owns 3,794,215 shares of the semiconductor company’s stock valued at $753,379,000 after buying an additional 397,753 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Analog Devices by 7.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,119,239 shares of the semiconductor company’s stock valued at $546,148,000 after buying an additional 225,048 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Analog Devices by 2.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,532,127 shares of the semiconductor company’s stock valued at $443,350,000 after buying an additional 69,181 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the completion of the transaction, the director now owns 6,371 shares of the company’s stock, valued at $1,259,164.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,707 shares of company stock valued at $4,825,113. Insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $189.93 on Wednesday. The company has a market cap of $94.19 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 4.60 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $192.77 and a 200 day simple moving average of $186.93. Analog Devices, Inc. has a one year low of $154.99 and a one year high of $204.20.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The firm’s revenue was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.75 EPS. Research analysts predict that Analog Devices, Inc. will post 5.86 earnings per share for the current fiscal year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.94%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is presently 65.83%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group increased their target price on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Morgan Stanley restated an “overweight” rating and set a $212.00 target price on shares of Analog Devices in a research report on Thursday, April 11th. KeyCorp increased their target price on shares of Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Evercore ISI assumed coverage on shares of Analog Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.17.

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.