Analog Devices, Inc. $ADI Holdings Trimmed by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 613,557 shares of the semiconductor company’s stock after selling 12,338 shares during the quarter. Analog Devices accounts for 2.2% of Confluence Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding. Confluence Investment Management LLC owned about 0.12% of Analog Devices worth $150,751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Analog Devices during the second quarter valued at $1,803,377,000. Marshall Wace LLP boosted its position in Analog Devices by 948.2% during the 2nd quarter. Marshall Wace LLP now owns 1,085,990 shares of the semiconductor company’s stock worth $258,487,000 after acquiring an additional 982,385 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Analog Devices by 47.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,745,985 shares of the semiconductor company’s stock valued at $653,599,000 after acquiring an additional 882,909 shares in the last quarter. Amundi grew its stake in Analog Devices by 29.2% during the 1st quarter. Amundi now owns 3,892,848 shares of the semiconductor company’s stock valued at $785,071,000 after acquiring an additional 880,636 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Analog Devices by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock valued at $11,955,086,000 after purchasing an additional 761,861 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ADI shares. Zacks Research cut shares of Analog Devices from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Sanford C. Bernstein reissued a “market perform” rating and set a $270.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Truist Financial boosted their price target on shares of Analog Devices from $258.00 to $291.00 and gave the company a “hold” rating in a report on Friday. Robert W. Baird increased their price objective on Analog Devices from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Finally, UBS Group boosted their target price on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $287.22.

Insider Transactions at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the sale, the chief accounting officer owned 18,913 shares of the company’s stock, valued at $5,258,381.39. This represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward H. Frank sold 1,000 shares of Analog Devices stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares in the company, valued at approximately $1,242,343.32. This represents a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 40,419 shares of company stock worth $10,249,017. 0.33% of the stock is currently owned by company insiders.

Analog Devices Stock Up 0.5%

Analog Devices stock opened at $275.82 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.68 and a debt-to-equity ratio of 0.24. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $284.23. The firm’s fifty day simple moving average is $251.00 and its 200-day simple moving average is $242.97. The company has a market capitalization of $135.06 billion, a P/E ratio of 60.49, a P/E/G ratio of 1.52 and a beta of 1.03.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a net margin of 20.58% and a return on equity of 11.23%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business posted $1.67 earnings per share. The business’s quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, December 8th. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

Analog Devices Company Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.