Naples Global Advisors LLC Has $8.58 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Naples Global Advisors LLC lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 0.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 40,371 shares of the semiconductor company’s stock after buying an additional 55 shares during the quarter. Analog Devices comprises about 0.8% of Naples Global Advisors LLC’s portfolio, making the stock its 23rd largest holding. Naples Global Advisors LLC’s holdings in Analog Devices were worth $8,577,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ADI. Raymond James & Associates increased its position in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock worth $540,463,000 after buying an additional 1,422,054 shares during the period. Franklin Resources Inc. grew its stake in shares of Analog Devices by 14.9% in the third quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after acquiring an additional 1,189,940 shares in the last quarter. International Assets Investment Management LLC increased its position in Analog Devices by 23,792.4% during the third quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock worth $2,043,000,000 after acquiring an additional 883,888 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Analog Devices by 807.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares in the last quarter. Finally, Holocene Advisors LP boosted its holdings in Analog Devices by 336.4% in the 3rd quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock valued at $245,953,000 after purchasing an additional 823,709 shares during the period. Institutional investors own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADI. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Barclays cut their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Piper Sandler decreased 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. Finally, Morgan Stanley dropped their price target on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $248.70.

Analog Devices Trading Up 0.8 %

NASDAQ ADI opened at $205.13 on Thursday. The company has a market cap of $101.77 billion, a price-to-earnings ratio of 62.35, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04. Analog Devices, Inc. has a twelve month low of $182.57 and a twelve month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average is $214.48 and its 200 day moving average is $219.98.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 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 firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the firm posted $2.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is currently 111.85%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Analog Devices 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.