Empowered Funds LLC Decreases Stake in Analog Devices, Inc. (NASDAQ:ADI)

Empowered Funds LLC decreased its position in Analog Devices, Inc. (NASDAQ:ADI) by 48.0% during the third quarter, Holdings Channel.com reports. The fund owned 24,905 shares of the semiconductor company’s stock after selling 22,965 shares during the quarter. Empowered Funds LLC’s holdings in Analog Devices were worth $5,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC increased its stake in shares of Analog Devices by 2.0% during the third quarter. Empirical Finance LLC now owns 17,370 shares of the semiconductor company’s stock valued at $3,998,000 after buying an additional 335 shares during the period. CIBC Asset Management Inc boosted its holdings in Analog Devices by 4.8% in the third quarter. CIBC Asset Management Inc now owns 179,698 shares of the semiconductor company’s stock valued at $41,361,000 after acquiring an additional 8,239 shares in the last quarter. Oak Harbor Wealth Partners LLC purchased a new position in Analog Devices during the 3rd quarter valued at $1,175,000. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Analog Devices by 5.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,582 shares of the semiconductor company’s stock worth $3,126,000 after purchasing an additional 700 shares during the period. Finally, Metis Global Partners LLC lifted its position in shares of Analog Devices by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 29,064 shares of the semiconductor company’s stock worth $6,690,000 after purchasing an additional 1,377 shares during the period. 86.81% of the stock is owned by institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the transaction, the executive vice president now directly owns 109,093 shares of the company’s stock, valued at $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock worth $25,229,958 in the last three months. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Analog Devices from a “buy” rating to a “hold” rating and dropped their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Bank of America reduced their price objective on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Analog Devices currently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $206.35 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $178.66 and a 52 week high of $244.14. The stock’s 50-day simple moving average is $225.88 and its 200-day simple moving average is $225.12. The company has a market capitalization of $102.45 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 2.98 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the company earned $2.49 EPS. The company’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.78%. Analog Devices’s dividend payout ratio (DPR) is presently 110.51%.

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.