Bleakley Financial Group LLC Has $3.19 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bleakley Financial Group LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,022 shares of the semiconductor company’s stock after selling 3,423 shares during the quarter. Bleakley Financial Group LLC’s holdings in Analog Devices were worth $3,192,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp increased its position in Analog Devices by 0.5% in the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock valued at $5,195,302,000 after acquiring an additional 106,664 shares during the period. Geode Capital Management LLC increased its holdings in Analog Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after purchasing an additional 135,838 shares during the period. Franklin Resources Inc. lifted its holdings in Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after buying an additional 1,189,940 shares during the period. FMR LLC lifted its holdings in Analog Devices by 9.9% during the 3rd quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock worth $1,700,640,000 after buying an additional 665,149 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Analog Devices by 17.3% in the 3rd quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company’s stock valued at $1,078,617,000 after buying an additional 700,862 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $207.83 on Friday. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The stock’s 50 day moving average is $215.65 and its 200-day moving average is $220.68. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $103.11 billion, a price-to-earnings ratio of 63.17, a PEG ratio of 2.43 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 earnings per share. Sell-side analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.77%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen cut their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Barclays lowered their price target 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. Morgan Stanley reduced their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, Truist Financial upped their price target on shares of Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices 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.