Paradigm Asset Management Co. LLC Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Paradigm Asset Management Co. LLC lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 38.8% in the fourth quarter, Holdings Channel reports. The firm owned 3,319 shares of the semiconductor company’s stock after selling 2,100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Analog Devices were worth $705,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ADI. Capital Performance Advisors LLP purchased a new stake in Analog Devices during the 3rd quarter worth approximately $28,000. Archer Investment Corp boosted its stake in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Analog Devices in the fourth quarter worth approximately $33,000. Kestra Investment Management LLC purchased a new stake in shares of Analog Devices during the fourth quarter worth approximately $41,000. Finally, Peterson Financial Group Inc. acquired a new position in Analog Devices in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analog Devices Trading Down 2.0 %

Shares of ADI stock opened at $238.91 on Friday. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $247.10. The firm has a market cap of $118.52 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04. The company has a 50-day moving average of $215.50 and a two-hundred day moving average of $220.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS. On average, analysts predict that Analog Devices, Inc. will post 7.11 EPS for the current year.

Analog Devices declared that its board has approved a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.66%. Analog Devices’s payout ratio is presently 126.11%.

Analyst Ratings Changes

ADI has been the topic of several recent research reports. Truist Financial lifted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Barclays cut their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. TD Cowen decreased their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, Benchmark upped their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $255.19.

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.