Global X Japan Co. Ltd. Cuts Position in Analog Devices, Inc. (NASDAQ:ADI)

Global X Japan Co. Ltd. cut its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,620 shares of the semiconductor company’s stock after selling 4,618 shares during the quarter. Analog Devices accounts for approximately 0.4% of Global X Japan Co. Ltd.’s holdings, making the stock its 29th biggest holding. Global X Japan Co. Ltd.’s holdings in Analog Devices were worth $3,531,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADI. Capital Performance Advisors LLP bought a new position in shares of Analog Devices during the third quarter valued at about $28,000. Archer Investment Corp lifted its stake in shares of Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 73 shares during the period. Financial Life Planners bought a new stake in shares of Analog Devices during the fourth quarter valued at approximately $33,000. Peterson Financial Group Inc. bought a new position in Analog Devices in the third quarter worth $43,000. Finally, Reston Wealth Management LLC purchased a new position in Analog Devices during the third quarter valued at $48,000. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,737,116.67. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Analog Devices Price Performance

NASDAQ ADI opened at $207.83 on Friday. 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 firm has a market capitalization of $103.11 billion, a P/E ratio of 63.17, a PEG ratio of 2.43 and a beta of 1.04. The company has a 50-day moving average price of $215.65 and a 200-day moving average price of $220.68. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its 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 net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. Equities research analysts anticipate that Analog Devices, Inc. will post 7.09 earnings per share for the current 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 of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. Analog Devices’s payout ratio is 111.85%.

Wall Street Analyst Weigh In

ADI has been the topic of a number of recent research reports. TD Cowen reduced their target price on shares of Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Wells Fargo & Company began coverage on Analog Devices in a research note on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Finally, Barclays reduced their price target 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. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.70.

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.