Metis Global Partners LLC Lowers Stake in Analog Devices, Inc. (NASDAQ:ADI)

Metis Global Partners LLC lessened its position in Analog Devices, Inc. (NASDAQ:ADI) by 9.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,830 shares of the semiconductor company’s stock after selling 2,484 shares during the period. Metis Global Partners LLC’s holdings in Analog Devices were worth $4,930,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ADI. CTC Alternative Strategies Ltd. purchased a new stake in shares of Analog Devices during the fourth quarter worth about $1,152,000. Sequoia Financial Advisors LLC increased its stake in Analog Devices by 107.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 12,667 shares of the semiconductor company’s stock valued at $2,515,000 after purchasing an additional 6,564 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in Analog Devices by 37.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 8,118 shares of the semiconductor company’s stock valued at $1,612,000 after purchasing an additional 2,215 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Analog Devices by 4.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock worth $19,946,000 after acquiring an additional 4,516 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Analog Devices by 31.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock worth $74,187,000 after acquiring an additional 89,504 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, EVP Vivek Jain sold 3,479 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director James Champy sold 1,228 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $197.64, for a total transaction of $242,701.92. Following the sale, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vivek Jain sold 3,479 shares of Analog Devices stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold a total of 24,707 shares of company stock worth $4,874,613 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ADI shares. Wolfe Research raised shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective for the company in a research note on Thursday, January 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $205.00 target price on shares of Analog Devices in a research report on Monday, March 4th. Morgan Stanley reissued an “overweight” rating and set a $212.00 price objective on shares of Analog Devices in a report on Thursday, April 11th. Oppenheimer reissued an “outperform” rating and set a $215.00 price objective on shares of Analog Devices in a report on Thursday, February 22nd. Finally, Evercore ISI initiated coverage on Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective for the company. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Stock Up 1.8 %

Shares of ADI stock traded up $3.69 on Monday, hitting $203.32. 2,157,051 shares of the stock were exchanged, compared to its average volume of 3,341,282. The business has a 50-day moving average of $194.27 and a 200 day moving average of $188.38. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $204.20. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $100.83 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 5.01 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the firm posted $2.75 earnings per share. The business’s quarterly revenue was down 22.7% compared to the same quarter last year. Equities analysts anticipate that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.92 per share. The ex-dividend date was Monday, March 4th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. Analog Devices’s dividend payout ratio (DPR) is 65.83%.

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.