abrdn plc Sells 74,372 Shares of Analog Devices, Inc. (NASDAQ:ADI)

abrdn plc reduced its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 11.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 594,419 shares of the semiconductor company’s stock after selling 74,372 shares during the quarter. abrdn plc’s holdings in Analog Devices were worth $126,335,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust lifted its holdings 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 during the period. Quotient Wealth Partners LLC increased its position in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 48 shares in the last quarter. Bank of Hawaii increased its holdings 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 purchasing an additional 48 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of Analog Devices by 2.8% in the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after acquiring an additional 50 shares during the period. Finally, DT Investment Partners LLC grew its holdings in shares of 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 acquiring an additional 51 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 3.1 %

ADI opened at $205.24 on Tuesday. The company’s 50 day simple moving average is $216.43 and its two-hundred day simple moving average is $221.17. The firm has a market capitalization of $101.82 billion, a price-to-earnings ratio of 62.38, a price-to-earnings-growth ratio of 2.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. Analog Devices, Inc. has a 1-year low of $182.57 and a 1-year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 EPS. Analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were given a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.79%. Analog Devices’s dividend payout ratio (DPR) is currently 111.85%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ADI shares. TD Cowen lowered their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Piper Sandler lowered their target price on Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Barclays decreased their price objective on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.70.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares of the company’s stock, valued at $4,737,116.67. The trade was 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 at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.