Chevy Chase Trust Holdings LLC Sells 5,410 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Chevy Chase Trust Holdings LLC lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 261,043 shares of the semiconductor company’s stock after selling 5,410 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Analog Devices worth $55,461,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ADI. Asset Management One Co. Ltd. increased its holdings in Analog Devices by 0.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 197,094 shares of the semiconductor company’s stock worth $42,767,000 after acquiring an additional 590 shares in the last quarter. Avestar Capital LLC grew its holdings in Analog Devices by 9.9% during the 4th quarter. Avestar Capital LLC now owns 4,156 shares of the semiconductor company’s stock valued at $883,000 after buying an additional 375 shares in the last quarter. Consolidated Planning Corp grew its holdings in Analog Devices by 203.1% during the 4th quarter. Consolidated Planning Corp now owns 8,376 shares of the semiconductor company’s stock valued at $1,780,000 after buying an additional 5,613 shares in the last quarter. Van ECK Associates Corp grew its holdings in Analog Devices by 4.8% during the 4th quarter. Van ECK Associates Corp now owns 4,981,475 shares of the semiconductor company’s stock valued at $1,058,364,000 after buying an additional 226,716 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in Analog Devices by 1.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,845 shares of the semiconductor company’s stock valued at $1,879,000 after buying an additional 145 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADI. Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Truist Financial increased their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a report on Friday, January 10th. TD Cowen cut their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Barclays cut their target price 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. Finally, Piper Sandler cut their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of “Moderate Buy” and a consensus target price of $248.52.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 21,983 shares in the company, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

ADI opened at $209.34 on Friday. The business’s 50-day moving average is $214.22 and its two-hundred day moving average is $219.87. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market capitalization of $103.86 billion, a PE ratio of 63.63, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. Research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.76%. Analog Devices’s payout ratio is 111.85%.

About Analog Devices

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.