Allspring Global Investments Holdings LLC Has $72.49 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Allspring Global Investments Holdings LLC reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 39.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,884 shares of the semiconductor company’s stock after selling 225,983 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Analog Devices were worth $72,491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ADI. Bank of Hawaii boosted its position in Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after buying an additional 48 shares during the period. MONECO Advisors LLC lifted its holdings in shares of Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 50 shares during the period. DT Investment Partners LLC grew its stake in shares of Analog Devices by 0.7% in the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock worth $1,587,000 after purchasing an additional 51 shares during the last quarter. Amarillo National Bank increased its holdings in Analog Devices by 3.6% in the third quarter. Amarillo National Bank now owns 1,565 shares of the semiconductor company’s stock valued at $360,000 after purchasing an additional 54 shares during the period. Finally, Blossom Wealth Management raised its position in Analog Devices by 3.0% during the 3rd quarter. Blossom Wealth Management now owns 1,881 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ADI shares. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. Barclays lowered their price target on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Truist Financial boosted their target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company began coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 target price for the company. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Analog Devices presently has an average rating of “Moderate Buy” and an average target price of $248.70.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the completion of the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Analog Devices Trading Up 0.8 %

Shares of ADI stock opened at $205.13 on Thursday. Analog Devices, Inc. has a 52-week low of $182.57 and a 52-week high of $244.14. The business’s fifty day moving average is $214.48 and its 200 day moving average is $219.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. The company has a market capitalization of $101.77 billion, a PE ratio of 62.35, a price-to-earnings-growth ratio of 2.38 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the firm posted $2.01 EPS. The company’s revenue was down 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. Analog Devices’s dividend payout ratio is presently 111.85%.

About Analog Devices

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.