Gateway Investment Advisers LLC Sells 5,996 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Gateway Investment Advisers LLC reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,880 shares of the semiconductor company’s stock after selling 5,996 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Analog Devices were worth $28,019,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted 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 buying an additional 106,664 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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. grew its stake in Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock worth $2,169,689,000 after purchasing an additional 1,189,940 shares in the last quarter. FMR LLC increased 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 purchasing an additional 665,149 shares during the period. Finally, Van ECK Associates Corp raised its position in Analog Devices by 17.3% during 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 purchasing an additional 700,862 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 1.5 %

NASDAQ ADI opened at $215.02 on Friday. Analog Devices, Inc. has a 12-month low of $182.57 and a 12-month high of $244.14. The company has a fifty day simple moving average of $216.03 and a two-hundred day simple moving average of $222.66. 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 stock has a market cap of $106.71 billion, a P/E ratio of 65.36, a P/E/G ratio of 2.43 and a beta of 1.05.

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 the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm earned $2.01 EPS. The firm’s revenue was down 10.1% on a year-over-year basis. On average, analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. Analog Devices’s dividend payout ratio is currently 111.85%.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the transaction, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADI. 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. TD Cowen dropped their target price 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. Wells Fargo & Company started coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price target for the company. Piper Sandler dropped their price objective on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.48.

About Analog Devices

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.