Gateway Investment Advisers LLC Sells 5,996 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Gateway Investment Advisers LLC lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,880 shares of the semiconductor company's stock after selling 5,996 shares during the period. Gateway Investment Advisers LLC's holdings in Analog Devices were worth $28,019,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in shares of Analog Devices during the 3rd quarter valued at $28,000. Archer Investment Corp raised its stake in Analog Devices by 101.4% in the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 73 shares during the period. Peterson Financial Group Inc. purchased a new stake in Analog Devices during the third quarter valued at about $43,000. Reston Wealth Management LLC bought a new position in Analog Devices during the third quarter worth about $48,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Analog Devices in the third quarter worth about $80,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Trading Up 1.9 %

Shares of ADI traded up $4.14 during mid-day trading on Friday, reaching $219.16. The company's stock had a trading volume of 2,871,098 shares, compared to its average volume of 3,006,107. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14. The stock has a market cap of $108.77 billion, a PE ratio of 66.61, a P/E/G ratio of 2.43 and a beta of 1.05. The company's fifty day moving average price is $215.78 and its two-hundred day moving average price is $222.60. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $2.01 earnings per share. The firm's revenue for the quarter was down 10.1% on a year-over-year basis. On average, analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were given a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices's payout ratio is currently 111.85%.

Insider Activity

In related news, CEO Vincent Roche sold 10,000 shares of the business's 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 transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the company's 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 $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company's stock, valued at $13,229,149.91. The trade was a 25.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,000 shares of company stock valued at $11,029,300. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ADI shares. TD Cowen cut their price objective on shares of Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated a "neutral" rating and set a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Morgan Stanley decreased their target price on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a report on Wednesday, November 27th. Finally, Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $247.57.

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.