Exchange Traded Concepts LLC Acquires 3,176 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Exchange Traded Concepts LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,855 shares of the semiconductor company’s stock after acquiring an additional 3,176 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Analog Devices were worth $3,793,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADI. Grove Bank & Trust grew its stake in Analog Devices by 3.1% in the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after buying an additional 43 shares in the last quarter. Quotient Wealth Partners LLC lifted its holdings in shares of Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock worth $455,000 after acquiring an additional 48 shares during the last quarter. Bank of Hawaii grew its position in Analog Devices by 4.8% in the third 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 increased 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 acquiring an additional 50 shares during the last quarter. Finally, DT Investment Partners LLC raised its position in Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after purchasing an additional 51 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $11,029,300 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Barclays cut their price objective on shares of 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. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 target price on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Piper Sandler decreased their price objective on Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average price target of $248.70.

Analog Devices Stock Performance

Analog Devices stock opened at $217.37 on Friday. Analog Devices, Inc. has a fifty-two week low of $182.57 and a fifty-two week high of $244.14. The stock’s 50 day simple moving average is $216.42 and its two-hundred day simple moving average is $222.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The stock has a market cap of $107.85 billion, a price-to-earnings ratio of 66.07, a PEG ratio of 2.57 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results 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 company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 earnings per share. As a group, analysts expect that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given 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 1.69%. Analog Devices’s dividend payout ratio (DPR) is currently 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.