Sei Investments Co. Has $66.21 Million Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Sei Investments Co. cut its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,655 shares of the semiconductor company's stock after selling 8,241 shares during the quarter. Sei Investments Co. owned 0.06% of Analog Devices worth $66,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its position in shares of Analog Devices by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 47,056 shares of the semiconductor company's stock worth $9,998,000 after buying an additional 14,879 shares during the period. Millstone Evans Group LLC acquired a new position in Analog Devices during the fourth quarter valued at $245,000. Washington Trust Bank lifted its stake in Analog Devices by 306.5% in the 4th quarter. Washington Trust Bank now owns 9,521 shares of the semiconductor company's stock worth $2,023,000 after acquiring an additional 7,179 shares in the last quarter. iA Global Asset Management Inc. boosted its position in Analog Devices by 5.5% during the 4th quarter. iA Global Asset Management Inc. now owns 55,063 shares of the semiconductor company's stock worth $11,699,000 after acquiring an additional 2,881 shares during the period. Finally, Talos Asset Management LP purchased a new position in Analog Devices during the 4th quarter valued at about $24,497,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Vivek Jain sold 12,684 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $210.00, for a total value of $2,663,640.00. Following the completion of the transaction, the executive vice president now directly owns 43,175 shares of the company's stock, valued at $9,066,750. This trade represents a 22.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $209.12, for a total transaction of $2,091,200.00. Following the sale, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,684 shares of company stock valued at $7,746,500. Insiders own 0.33% of the company's stock.

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Analog Devices Stock Performance

NASDAQ:ADI traded down $1.59 during mid-day trading on Thursday, hitting $208.94. 2,884,763 shares of the company's stock traded hands, compared to its average volume of 3,111,701. The firm has a market capitalization of $103.63 billion, a price-to-earnings ratio of 66.54, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. The firm has a 50 day moving average of $216.98 and a two-hundred day moving average of $219.72. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. Analog Devices's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. On average, equities analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices declared that its board has initiated a stock buyback program on Tuesday, February 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Analog Devices Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.99 per share. This is an increase from Analog Devices's previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.90%. Analog Devices's payout ratio is presently 126.11%.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research analyst reports. Benchmark increased their price target on shares of Analog Devices from $245.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Analog Devices from $280.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Truist Financial lifted their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Lake Street Capital assumed coverage on shares of Analog Devices in a research note on Friday, February 14th. They issued a "buy" rating on the stock. Finally, TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.41.

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.