Global X Japan Co. Ltd. Sells 4,618 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Global X Japan Co. Ltd. cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 21.7% during the fourth quarter, HoldingsChannel reports. The firm owned 16,620 shares of the semiconductor company’s stock after selling 4,618 shares during the quarter. Analog Devices comprises 0.4% of Global X Japan Co. Ltd.’s holdings, making the stock its 29th largest position. Global X Japan Co. Ltd.’s holdings in Analog Devices were worth $3,531,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust boosted its position in shares of Analog Devices by 3.1% during the third quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company’s stock valued at $333,000 after buying an additional 43 shares during the period. Quotient Wealth Partners LLC boosted its holdings in Analog Devices by 2.5% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 48 shares during the period. Bank of Hawaii increased its stake in Analog Devices by 4.8% in the third quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 48 shares during the period. MONECO Advisors LLC lifted its position in shares of Analog Devices by 2.8% during the third quarter. MONECO Advisors LLC now owns 1,819 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 50 shares during the last quarter. Finally, DT Investment Partners LLC boosted its stake in shares of Analog Devices by 0.7% during the third quarter. DT Investment Partners LLC now owns 6,893 shares of the semiconductor company’s stock valued at $1,587,000 after purchasing an additional 51 shares during the period. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total transaction of $2,154,900.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Analog Devices Trading Down 0.9 %

Shares of NASDAQ:ADI opened at $207.83 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.35. The firm has a market capitalization of $103.11 billion, a P/E ratio of 63.17, a P/E/G ratio of 2.43 and a beta of 1.04. The business’s 50-day moving average is $215.65 and its 200 day moving average is $220.68. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $244.14.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.01 earnings per share. On average, research analysts predict that Analog Devices, Inc. will post 7.09 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Monday, December 9th. Analog Devices’s payout ratio is 111.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADI. Wells Fargo & Company started coverage on shares of Analog Devices in a report on Friday, November 22nd. They set an “equal weight” rating and a $220.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Analog Devices in a report on Wednesday, November 27th. TD Cowen reduced their price objective on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Truist Financial raised their price target on Analog Devices from $216.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Finally, Morgan Stanley lowered their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Analog Devices has an average rating of “Moderate Buy” and an average target price of $248.70.

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.