Fort Washington Investment Advisors Inc. OH Acquires 22,038 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Fort Washington Investment Advisors Inc. OH lifted its stake in Analog Devices, Inc. (NASDAQ:ADI) by 9.1% during the fourth quarter, HoldingsChannel reports. The firm owned 263,367 shares of the semiconductor company’s stock after purchasing an additional 22,038 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Analog Devices were worth $55,955,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its holdings in shares of Analog Devices by 3.1% in the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock worth $333,000 after buying an additional 43 shares during the period. Quotient Wealth Partners LLC raised its holdings in shares of Analog Devices by 2.5% in the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares in the last quarter. Bank of Hawaii lifted its stake in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 48 shares during the period. MONECO Advisors LLC grew its holdings in Analog Devices by 2.8% during the 3rd quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after acquiring an additional 50 shares in the last quarter. Finally, DT Investment Partners LLC increased its position in Analog Devices by 0.7% during the 3rd quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Wall Street Analyst Weigh In

ADI has been the subject of several research reports. Piper Sandler lowered their price target on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Truist Financial upped their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Barclays cut their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley decreased their price objective on Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and a consensus price target of $248.70.

Analog Devices Price Performance

NASDAQ ADI opened at $221.45 on Wednesday. The company has a market cap of $109.87 billion, a price-to-earnings ratio of 67.31, a PEG ratio of 2.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The stock’s fifty day moving average price is $215.62 and its 200 day moving average price is $222.39. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The company’s revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.09 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Insider Activity

In other news, EVP Gregory M. Bryant sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. This represents a 25.29 % 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, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $11,029,300 in the last ninety days. 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.