Federated Hermes Inc. Reduces Holdings in Analog Devices, Inc. $ADI

Federated Hermes Inc. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 71.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,492 shares of the semiconductor company’s stock after selling 21,019 shares during the period. Federated Hermes Inc.’s holdings in Analog Devices were worth $2,086,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADI. Howard Hughes Medical Institute acquired a new stake in Analog Devices during the 2nd quarter valued at $25,000. RMG Wealth Management LLC acquired a new position in shares of Analog Devices in the second quarter worth $26,000. Clayton Financial Group LLC purchased a new stake in shares of Analog Devices in the third quarter valued at $31,000. Sound Income Strategies LLC boosted its stake in shares of Analog Devices by 141.8% during the third quarter. Sound Income Strategies LLC now owns 162 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 95 shares during the last quarter. Finally, Access Investment Management LLC acquired a new stake in shares of Analog Devices during the second quarter valued at $45,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Martin Cotter sold 10,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $278.44, for a total transaction of $2,784,400.00. Following the completion of the sale, the senior vice president owned 49,664 shares in the company, valued at approximately $13,828,444.16. The trade was a 16.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katsufumi Nakamura sold 500 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $301.46, for a total transaction of $150,730.00. Following the sale, the senior vice president directly owned 12,710 shares of the company’s stock, valued at approximately $3,831,556.60. This trade represents a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,419 shares of company stock valued at $14,328,855 in the last 90 days. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADI has been the subject of several analyst reports. BNP Paribas Exane initiated coverage on shares of Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 target price for the company. Cfra reiterated a “buy” rating and set a $280.00 price target on shares of Analog Devices in a report on Tuesday, November 25th. Evercore ISI reduced their price objective on shares of Analog Devices from $303.00 to $282.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Zacks Research upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $270.00 target price on shares of Analog Devices in a research note on Wednesday, November 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Analog Devices Price Performance

Analog Devices stock opened at $320.44 on Thursday. Analog Devices, Inc. has a 1 year low of $158.65 and a 1 year high of $323.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.68 and a current ratio of 2.19. The firm has a 50 day moving average price of $288.06 and a 200 day moving average price of $256.04. The company has a market cap of $156.58 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 1.69 and a beta of 1.03.

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

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.2%. Analog Devices’s dividend payout ratio (DPR) is presently 86.84%.

About Analog Devices

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.