M&G Investment Management Ltd. Reduces Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

M&G Investment Management Ltd. reduced its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,107,939 shares of the semiconductor company's stock after selling 255,567 shares during the quarter. Analog Devices makes up about 1.3% of M&G Investment Management Ltd.'s portfolio, making the stock its 13th largest position. M&G Investment Management Ltd. owned 0.22% of Analog Devices worth $220,480,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ADI. Pinnacle Bancorp Inc. raised its position in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 65 shares during the period. USA Financial Formulas raised its position in Analog Devices by 87.8% in the fourth quarter. USA Financial Formulas now owns 139 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 65 shares during the period. Silver Oak Securities Incorporated bought a new position in shares of Analog Devices during the 3rd quarter worth $29,000. Cetera Trust Company N.A bought a new stake in shares of Analog Devices in the fourth quarter valued at approximately $29,000. Finally, Northwest Capital Management Inc raised its stake in shares of Analog Devices by 519.2% during the 4th quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 135 shares during the period. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now directly owns 51,039 shares of the company's stock, valued at $10,057,745.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director James Champy sold 1,228 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total transaction of $242,701.92. Following the transaction, the director now directly owns 6,371 shares in the company, valued at approximately $1,259,164.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at $10,057,745.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,707 shares of company stock valued at $4,874,613. Corporate insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Truist Financial dropped their target price on Analog Devices from $226.00 to $222.00 and set a "buy" rating for the company in a research report on Thursday, February 22nd. Wolfe Research raised Analog Devices from a "peer perform" rating to an "outperform" rating and set a $225.00 price target for the company in a research report on Thursday, January 18th. KeyCorp upped their price target on Analog Devices from $220.00 to $230.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $212.00 price target on shares of Analog Devices in a report on Thursday, April 11th. Finally, Evercore ISI initiated coverage on shares of Analog Devices in a report on Tuesday, April 16th. They issued an "outperform" rating and a $254.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.38.

Analog Devices Stock Performance

Shares of NASDAQ:ADI traded up $3.81 on Wednesday, reaching $215.75. 3,802,668 shares of the company's stock were exchanged, compared to its average volume of 3,306,426. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The business's 50-day moving average is $196.39 and its two-hundred day moving average is $190.49. Analog Devices, Inc. has a fifty-two week low of $154.99 and a fifty-two week high of $215.90. The firm has a market capitalization of $106.99 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 5.24 and a beta of 1.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The semiconductor company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.71 by $0.02. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. Analog Devices's revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.75 earnings per share. As a group, equities research analysts forecast that Analog Devices, Inc. will post 5.85 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.92 dividend. This is a positive change from Analog Devices's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, March 4th. This represents a $3.68 annualized dividend and a yield of 1.71%. Analog Devices's payout ratio is 65.83%.

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.