Delta Investment Management LLC Lowers Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Delta Investment Management LLC trimmed its position in Analog Devices, Inc. (NASDAQ:ADI) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,490 shares of the semiconductor company’s stock after selling 180 shares during the quarter. Delta Investment Management LLC’s holdings in Analog Devices were worth $296,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CTC Alternative Strategies Ltd. acquired a new position in shares of Analog Devices in the fourth quarter valued at about $1,152,000. Sequoia Financial Advisors LLC increased its holdings in shares of Analog Devices by 107.6% in 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 period. Prime Capital Investment Advisors LLC increased its holdings in shares of Analog Devices by 37.5% in 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 period. Daiwa Securities Group Inc. increased its holdings in shares of Analog Devices by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,451 shares of the semiconductor company’s stock valued at $19,946,000 after purchasing an additional 4,516 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Analog Devices by 31.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 373,625 shares of the semiconductor company’s stock valued at $74,187,000 after purchasing an additional 89,504 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Analog Devices

In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $192.11, for a total transaction of $1,921,100.00. Following the transaction, the chief executive officer now owns 5,713 shares of the company’s stock, valued at $1,097,524.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Champy sold 1,228 shares of the 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 transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The disclosure for this sale can be found here. In the last three months, insiders sold 24,707 shares of company stock worth $4,825,113. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ADI shares. Barclays upped their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Morgan Stanley restated an “overweight” rating and issued a $212.00 target price on shares of Analog Devices in a research note on Thursday, April 11th. Oppenheimer restated an “outperform” rating and issued a $215.00 target price on shares of Analog Devices in a research note on Thursday, February 22nd. The Goldman Sachs Group upped their target price on Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, Truist Financial lowered their target price on Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Analog Devices Price Performance

ADI stock traded up $4.03 on Friday, reaching $201.97. The company had a trading volume of 3,136,261 shares, compared to its average volume of 3,090,032. The company’s fifty day moving average is $193.45 and its 200 day moving average is $187.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The company has a market cap of $100.16 billion, a P/E ratio of 36.13, a PEG ratio of 4.97 and a beta of 1.17. Analog Devices, Inc. has a 1 year low of $154.99 and a 1 year high of $204.20.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a return on equity of 12.76% and a net margin of 24.34%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.75 EPS. On average, research analysts forecast that Analog Devices, Inc. will post 5.86 earnings per share for the current 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 issued a $0.92 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Monday, March 4th. Analog Devices’s dividend payout ratio is currently 65.83%.

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.