Paradigm Asset Management Co. LLC Sells 2,100 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Paradigm Asset Management Co. LLC decreased its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 38.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,319 shares of the semiconductor company’s stock after selling 2,100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Analog Devices were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Bank of Hawaii raised its position in shares of Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 48 shares in the last quarter. MONECO Advisors LLC grew its stake in Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock valued at $419,000 after purchasing an additional 50 shares during the last quarter. DT Investment Partners LLC raised its holdings in Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after purchasing an additional 51 shares in the last quarter. Amarillo National Bank raised its holdings in Analog Devices by 3.6% in the third quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock worth $360,000 after purchasing an additional 54 shares in the last quarter. Finally, NTV Asset Management LLC lifted its position in shares of Analog Devices by 2.7% during the fourth quarter. NTV Asset Management LLC now owns 2,063 shares of the semiconductor company’s stock valued at $438,000 after buying an additional 54 shares during the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Trading Down 2.0 %

Shares of Analog Devices stock opened at $238.91 on Friday. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.35. The stock has a market cap of $118.52 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04. The firm has a fifty day moving average price of $215.50 and a 200 day moving average price of $220.24.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.09. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that Analog Devices, Inc. will post 7.11 earnings per share for the current year.

Analog Devices declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is currently 126.11%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This represents a 31.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ADI shares. Morgan Stanley boosted their price objective on shares of Analog Devices from $248.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. raised their price objective on Analog Devices from $280.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays dropped their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Benchmark increased their price target on Analog Devices from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.19.

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.