International Assets Investment Management LLC Sells 883,562 Shares of Analog Devices, Inc. (NASDAQ:ADI)

International Assets Investment Management LLC reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 99.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,041 shares of the semiconductor company's stock after selling 883,562 shares during the quarter. International Assets Investment Management LLC's holdings in Analog Devices were worth $854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADI. State Street Corp raised its stake in Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after acquiring an additional 106,664 shares in the last quarter. Geode Capital Management LLC increased its position in Analog Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company's stock worth $2,377,094,000 after purchasing an additional 135,838 shares in the last quarter. Franklin Resources Inc. lifted its stake in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the last quarter. FMR LLC boosted its position in Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock valued at $1,700,640,000 after buying an additional 665,149 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock worth $1,078,617,000 after buying an additional 700,862 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Analog Devices news, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction 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 approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on 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 approximately $4,744,590.89. The trade was a 31.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $11,029,300. Insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADI shares. Truist Financial raised their price objective on Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a report on Friday. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price objective for the company. Piper Sandler reduced their target price on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Finally, Morgan Stanley decreased their price target on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Analog Devices presently has an average rating of "Moderate Buy" and a consensus target price of $249.48.

Analog Devices Stock Down 3.7 %

ADI traded down $8.07 during midday trading on Friday, hitting $212.37. The company had a trading volume of 4,107,954 shares, compared to its average volume of 3,032,579. The company has a market capitalization of $105.40 billion, a price-to-earnings ratio of 64.55, a PEG ratio of 2.47 and a beta of 1.05. The stock's 50 day moving average price is $216.74 and its 200 day moving average price is $223.08. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $182.57 and a 52 week high of $244.14.

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 analysts' consensus estimates of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm's revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.01 EPS. On average, research analysts anticipate that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.73%. Analog Devices's payout ratio is 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.