Empowered Funds LLC Has $5.73 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Empowered Funds LLC trimmed its stake in Analog Devices, Inc. (NASDAQ:ADI) by 48.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,905 shares of the semiconductor company’s stock after selling 22,965 shares during the quarter. Empowered Funds LLC’s holdings in Analog Devices were worth $5,732,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADI. Nwam LLC raised its position in shares of Analog Devices by 37.9% during the first quarter. Nwam LLC now owns 1,448 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 398 shares during the period. Banco Santander S.A. bought a new position in shares of Analog Devices in the first quarter valued at $435,000. TIAA Trust National Association grew its holdings in shares of Analog Devices by 1.7% during the first quarter. TIAA Trust National Association now owns 21,866 shares of the semiconductor company’s stock valued at $4,325,000 after buying an additional 360 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Analog Devices during the first quarter worth about $469,000. Finally, Catalytic Wealth RIA LLC raised its holdings in shares of Analog Devices by 20.6% in the 1st quarter. Catalytic Wealth RIA LLC now owns 1,869 shares of the semiconductor company’s stock worth $370,000 after acquiring an additional 319 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Down 2.8 %

Analog Devices stock opened at $206.35 on Friday. Analog Devices, Inc. has a 1-year low of $178.66 and a 1-year high of $244.14. The firm has a 50 day simple moving average of $225.88 and a 200 day simple moving average of $225.12. The company has a current ratio of 1.69, a quick ratio of 1.24 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $102.45 billion, a price-to-earnings ratio of 61.97, a P/E/G ratio of 2.98 and a beta of 1.08.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. Analog Devices’s revenue was down 24.8% compared to the same quarter last year. During the same period last year, the business earned $2.49 earnings per share. On average, analysts predict that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices’s dividend payout ratio is currently 110.51%.

Insiders Place Their Bets

In other Analog Devices news, Director Edward H. Frank sold 995 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $234.31, for a total value of $233,138.45. Following the completion of the sale, the director now owns 3,753 shares of the company’s stock, valued at $879,365.43. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,495 shares of company stock valued at $25,229,958 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

ADI has been the subject of a number of recent research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, Truist Financial cut shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.80.

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.