Deprince Race & Zollo Inc. Lowers Position in Analog Devices, Inc. $ADI

Deprince Race & Zollo Inc. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,497 shares of the semiconductor company’s stock after selling 20,825 shares during the period. Deprince Race & Zollo Inc.’s holdings in Analog Devices were worth $20,515,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after purchasing an additional 761,861 shares during the last quarter. State Street Corp lifted its position in shares of Analog Devices by 2.2% during the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock worth $5,549,973,000 after buying an additional 506,507 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Analog Devices by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock worth $2,770,448,000 after buying an additional 633,425 shares in the last quarter. Norges Bank purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $1,803,377,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Analog Devices by 6.3% in the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock valued at $1,506,448,000 after acquiring an additional 375,207 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Price Performance

NASDAQ ADI opened at $276.84 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The company has a market cap of $135.55 billion, a PE ratio of 60.71, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $284.23. The firm’s 50-day simple moving average is $254.03 and its two-hundred day simple moving average is $244.26.

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

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a dividend of $0.99 per share. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a dividend yield of 1.4%. Analog Devices’s dividend payout ratio is currently 86.84%.

Analyst Ratings Changes

ADI has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $270.00 price target on shares of Analog Devices in a report on Wednesday, November 26th. Bank of America raised their target price on Analog Devices from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Stifel Nicolaus set a $280.00 price target on shares of Analog Devices in a report on Friday, November 21st. Morgan Stanley raised their price objective on shares of Analog Devices from $288.00 to $293.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, Wall Street Zen cut shares of Analog Devices from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $287.22.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.71, for a total value of $2,437,100.00. Following the completion of the transaction, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $34,148,157.78. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $279.39, for a total value of $873,093.75. Following the sale, the director directly owned 136,321 shares in the company, valued at $38,086,724.19. This trade represents a 2.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 40,419 shares of company stock valued at $10,249,017. 0.33% of the stock is currently owned by company insiders.

Analog Devices 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.