Van ECK Associates Corp Has $1.06 Billion Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Van ECK Associates Corp grew its position in Analog Devices, Inc. (NASDAQ:ADI) by 4.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,981,475 shares of the semiconductor company’s stock after purchasing an additional 226,716 shares during the period. Analog Devices accounts for 1.4% of Van ECK Associates Corp’s investment portfolio, making the stock its 14th biggest holding. Van ECK Associates Corp’s holdings in Analog Devices were worth $1,058,364,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADI. State Street Corp boosted its holdings in Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company’s stock worth $5,195,302,000 after buying an additional 106,664 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company’s stock valued at $2,377,094,000 after acquiring an additional 135,838 shares during the period. Franklin Resources Inc. boosted its stake 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 acquiring an additional 1,189,940 shares during the last quarter. FMR LLC grew its holdings in Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company’s stock valued at $1,700,640,000 after purchasing an additional 665,149 shares during the period. Finally, Swedbank AB increased its stake in Analog Devices by 16.9% in the fourth quarter. Swedbank AB now owns 3,381,836 shares of the semiconductor company’s stock valued at $718,505,000 after purchasing an additional 487,727 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Up 0.8 %

Shares of ADI stock opened at $205.13 on Thursday. The firm’s fifty day moving average price is $214.48 and its two-hundred day moving average price is $219.98. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14. The firm has a market capitalization of $101.77 billion, a P/E ratio of 62.35, a PEG ratio of 2.38 and a beta of 1.04.

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

Analog Devices Announces Dividend

The business also recently disclosed 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. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s dividend payout ratio is currently 111.85%.

Wall Street Analyst Weigh In

ADI has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. TD Cowen reduced their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Barclays decreased their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Piper Sandler decreased their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $248.70.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,737,116.67. This trade represents a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by insiders.

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.