Analog Devices, Inc. (NASDAQ:ADI) Stake Lessened by Metis Global Partners LLC

Metis Global Partners LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,830 shares of the semiconductor company’s stock after selling 2,484 shares during the quarter. Metis Global Partners LLC’s holdings in Analog Devices were worth $4,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TCI Wealth Advisors Inc. acquired a new position in shares of Analog Devices during the fourth quarter valued at $203,000. Clearstead Trust LLC boosted its holdings in shares of Analog Devices by 814.8% during the fourth quarter. Clearstead Trust LLC now owns 2,287 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 2,037 shares during the period. NTV Asset Management LLC boosted its holdings in shares of Analog Devices by 5.0% during the fourth quarter. NTV Asset Management LLC now owns 1,669 shares of the semiconductor company’s stock valued at $331,000 after acquiring an additional 80 shares during the period. National Bank of Canada FI boosted its holdings in shares of Analog Devices by 131.6% during the fourth quarter. National Bank of Canada FI now owns 593,156 shares of the semiconductor company’s stock valued at $114,820,000 after acquiring an additional 336,989 shares during the period. Finally, FourThought Financial Partners LLC boosted its holdings in shares of Analog Devices by 62.0% during the fourth quarter. FourThought Financial Partners LLC now owns 2,805 shares of the semiconductor company’s stock valued at $557,000 after acquiring an additional 1,074 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADI shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 price objective on shares of Analog Devices in a report on Monday, March 4th. Truist Financial reduced their price objective on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Barclays upped their price objective on shares of Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Evercore ISI assumed coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an “outperform” rating and a $254.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price target on shares of Analog Devices in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.17.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total transaction of $1,970,600.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $10,057,745.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the sale, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,707 shares of company stock worth $4,874,613. 0.31% of the stock is owned by corporate insiders.

Analog Devices Stock Up 1.8 %

Shares of NASDAQ ADI traded up $3.69 during trading hours on Monday, hitting $203.32. The stock had a trading volume of 2,157,051 shares, compared to its average volume of 3,341,282. The company has a market capitalization of $100.83 billion, a P/E ratio of 35.88, a P/E/G ratio of 5.01 and a beta of 1.14. The firm’s 50-day moving average price is $194.27 and its two-hundred day moving average price is $188.38. Analog Devices, Inc. has a 52 week low of $154.99 and a 52 week high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51.

Analog Devices (NASDAQ:ADI) last announced its 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. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business earned $2.75 earnings per share. The company’s revenue was down 22.7% on a year-over-year basis. Analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current fiscal year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is presently 65.83%.

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.