DAVENPORT & Co LLC Has $65.50 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

DAVENPORT & Co LLC boosted its holdings in Analog Devices, Inc. (NASDAQ:ADIFree Report) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 329,467 shares of the semiconductor company’s stock after acquiring an additional 4,998 shares during the period. DAVENPORT & Co LLC’s holdings in Analog Devices were worth $65,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ADI. Penobscot Investment Management Company Inc. increased its holdings in Analog Devices by 7.0% in the 3rd quarter. Penobscot Investment Management Company Inc. now owns 10,089 shares of the semiconductor company’s stock valued at $1,766,000 after buying an additional 658 shares during the period. Gateway Investment Advisers LLC increased its holdings in Analog Devices by 5.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 145,667 shares of the semiconductor company’s stock valued at $28,924,000 after buying an additional 7,021 shares during the period. First Foundation Advisors increased its holdings in Analog Devices by 0.6% in the 2nd quarter. First Foundation Advisors now owns 16,324 shares of the semiconductor company’s stock valued at $3,180,000 after buying an additional 97 shares during the period. Rockline Wealth Management LLC bought a new position in Analog Devices in the 4th quarter valued at about $334,000. Finally, Ritholtz Wealth Management increased its holdings in Analog Devices by 2.5% in the 4th quarter. Ritholtz Wealth Management now owns 4,836 shares of the semiconductor company’s stock valued at $960,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.

Analog Devices Trading Down 0.9 %

Shares of NASDAQ ADI traded down $1.74 during midday trading on Tuesday, reaching $194.88. The stock had a trading volume of 2,495,800 shares, compared to its average volume of 3,404,978. The firm has a market cap of $96.64 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 4.96 and a beta of 1.17. Analog Devices, Inc. has a twelve month low of $154.99 and a twelve month high of $202.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company’s 50 day moving average price is $193.13 and its 200 day moving average price is $184.95.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $2.51 billion for 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 company’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.75 EPS. As a group, sell-side analysts expect that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s payout ratio is 65.83%.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares in the company, valued at approximately $1,097,524.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Champy sold 1,228 shares of the business’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 transaction, the director now owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,228 shares of company stock worth $4,137,802. Company insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ADI shares. Edward Jones raised shares of Analog Devices from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 price target (down from $219.00) on shares of Analog Devices in a report on Thursday, February 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $205.00 price target on shares of Analog Devices in a report on Monday, March 4th. Truist Financial decreased their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target on shares of Analog Devices in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.26.

Get Our Latest Research Report on ADI

Analog Devices Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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