Fosun International Ltd Cuts Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Fosun International Ltd lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 10.5% in the 4th quarter, Holdings Channel reports. The firm owned 9,569 shares of the semiconductor company’s stock after selling 1,127 shares during the period. Analog Devices accounts for 0.4% of Fosun International Ltd’s portfolio, making the stock its 15th biggest holding. Fosun International Ltd’s holdings in Analog Devices were worth $1,900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADI. Pinnacle Bancorp Inc. boosted its holdings in Analog Devices by 101.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after buying an additional 65 shares during the period. Cetera Trust Company N.A purchased a new position in shares of Analog Devices in the 4th quarter worth approximately $29,000. Stuart Chaussee & Associates Inc. bought a new position in Analog Devices in the 4th quarter worth about $32,000. Northwest Capital Management Inc boosted its holdings in shares of Analog Devices by 519.2% in the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 135 shares during the period. Finally, Silver Oak Securities Incorporated bought a new stake in shares of Analog Devices in the third quarter valued at about $29,000. 86.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADI. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a report on Thursday, February 22nd. KeyCorp boosted their target price on Analog Devices from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Evercore ISI began coverage on shares of Analog Devices in a report on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Finally, Truist Financial decreased their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Analog Devices Stock Performance

ADI stock traded down $0.72 during trading on Thursday, hitting $204.14. 118,285 shares of the company traded hands, compared to its average volume of 3,294,809. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $205.77. The company has a market cap of $101.24 billion, a PE ratio of 36.65, a P/E/G ratio of 5.01 and a beta of 1.14. The stock’s 50-day simple moving average is $194.85 and its 200 day simple moving average is $188.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.98.

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

Analog Devices Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a $0.92 dividend. The ex-dividend date was Monday, March 4th. This is a positive change from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a yield of 1.80%. Analog Devices’s dividend payout ratio (DPR) is currently 65.83%.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Champy sold 1,228 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,259,164.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,707 shares of company stock worth $4,874,613. Insiders own 0.31% of the company’s stock.

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.