Bristol John W & Co. Inc. NY Decreases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Bristol John W & Co. Inc. NY reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,315 shares of the semiconductor company's stock after selling 9,694 shares during the quarter. Bristol John W & Co. Inc. NY owned approximately 0.08% of Analog Devices worth $88,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Analog Devices by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after buying an additional 413,084 shares during the last quarter. Geode Capital Management LLC grew its stake in Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after acquiring an additional 247,737 shares in the last quarter. Norges Bank bought a new stake in Analog Devices in the 4th quarter valued at $1,755,958,000. FMR LLC lifted its stake in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after purchasing an additional 61,390 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Analog Devices by 8.4% during the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock valued at $1,173,026,000 after purchasing an additional 427,328 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Trading Down 1.3%

ADI traded down $2.76 during trading hours on Friday, reaching $212.99. 10,922,416 shares of the company's stock traded hands, compared to its average volume of 3,562,695. The firm has a 50-day moving average price of $198.18 and a 200 day moving average price of $210.08. The firm has a market capitalization of $105.70 billion, a PE ratio of 67.83, a PEG ratio of 2.85 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52-week low of $158.65 and a 52-week high of $247.10.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The business's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, sell-side analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 annualized dividend and a yield of 1.86%. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

Analog Devices announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ADI has been the topic of several research reports. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Cantor Fitzgerald lifted their price objective on Analog Devices from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Seaport Res Ptn upgraded Analog Devices to a "strong sell" rating in a research report on Wednesday, April 30th. Truist Financial raised their target price on shares of Analog Devices from $230.00 to $248.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Finally, Lake Street Capital started coverage on shares of Analog Devices in a research note on Friday, February 14th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $248.63.

Insiders Place Their Bets

In related news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $180.21, for a total value of $563,156.25. Following the completion of the transaction, the director now owns 186,321 shares of the company's stock, valued at $33,576,907.41. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vivek Jain sold 12,684 shares of the company'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 sale, the executive vice president now owns 43,175 shares of the company's stock, valued at approximately $9,066,750. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,934 shares of company stock worth $8,735,156 in the last ninety days. 0.33% of the stock is owned by company insiders.

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.