Janus Henderson Group PLC Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Janus Henderson Group PLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 19.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,743,548 shares of the semiconductor company’s stock after selling 410,542 shares during the quarter. Janus Henderson Group PLC owned approximately 0.35% of Analog Devices worth $401,316,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ADI. Charles Schwab Investment Management Inc. lifted its stake in Analog Devices by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock worth $623,399,000 after acquiring an additional 39,186 shares during the period. Swiss National Bank lifted its stake in Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after acquiring an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock worth $5,264,000 after acquiring an additional 7,386 shares during the period. Summit Global Investments purchased a new stake in Analog Devices in the third quarter worth about $867,000. Finally, Versor Investments LP purchased a new stake in Analog Devices in the third quarter worth about $952,000. 86.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ADI shares. JPMorgan Chase & Co. upped their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial lowered their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, TD Cowen lowered their price target on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.33.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 21,983 shares in the company, valued at $4,921,334.21. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is owned by insiders.

Analog Devices Stock Performance

ADI opened at $221.54 on Wednesday. Analog Devices, Inc. has a 12-month low of $179.63 and a 12-month high of $244.14. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $109.95 billion, a PE ratio of 67.34, a P/E/G ratio of 2.54 and a beta of 1.05. The firm has a 50 day moving average of $223.97 and a two-hundred day moving average of $226.15.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm posted $2.01 EPS. Analog Devices’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices’s dividend payout ratio is presently 111.85%.

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.