Van ECK Associates Corp Increases Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Van ECK Associates Corp has announced a 4.8% increase in its holdings of Analog Devices, Inc. (NASDAQ:ADI) during the fourth quarter, as disclosed in a recent filing with the Securities and Exchange Commission (SEC). After acquiring an additional 226,716 shares, the fund now holds a total of 4,981,475 shares in the semiconductor company. This increase means that Analog Devices represents approximately 1.4% of Van ECK Associates Corp's overall holdings, ranking as the fund's 14th largest position. Furthermore, as of the latest SEC report, Van ECK Associates Corp's stake in Analog Devices is valued at around $1,058,364,000, accounting for about 1.00% of the company's total shares.

Recently, several other institutional investors have also adjusted their positions in Analog Devices. Creative Planning increased its stake by 4.7% in the third quarter, now owning 116,826 shares worth $26,890,000 after an additional purchase of 5,269 shares. Swedbank AB raised its holdings by 6.7%, acquiring 180,870 shares, which brings its total to 2,894,109 shares valued at $666,137,000. Other notable transactions include SPC Financial Inc. initiating a new stake worth approximately $544,000, and Cornerstone Wealth Management LLC boosting its stake by 17.9% to own 2,590 shares now worth $596,000. Similarly, Good Life Advisors LLC increased its stake by 19.3%, owning 2,775 shares valued at $639,000. Currently, institutional investors hold about 86.81% of the company's stock.

Insider Selling Activity

In more recent news regarding insider trading, CEO Vincent Roche sold 10,000 shares of Analog Devices on December 11th, at an average price of $215.83, resulting in a total transaction amount of $2,158,300. Following this sale, Vincent Roche's remaining ownership in the company comprises 21,983 shares, which are valued at approximately $4,744,590. This sale indicates a 31.27% reduction in his ownership. This transaction was documented in a filing with the SEC, accessible for review. Currently, corporate insiders own about 0.33% of the company's stock.

Market Performance of Analog Devices

The shares of Analog Devices were trading at $205.13 on Thursday. The company has a 52-week trading range with a low of $182.57 and a high of $244.14. Presently, Analog Devices has a market capitalization of $101.77 billion, a price-to-earnings (P/E) ratio of 62.35, a price-to-earnings-growth (PEG) ratio of 2.38, and a beta of 1.04. The debt-to-equity ratio stands at 0.19, while the company has a current ratio of 1.84 and a quick ratio of 1.35. The fifty-day moving average price is $214.48 and the two-hundred day moving average price is $219.98.

Analog Devices reported its quarterly earnings on November 26th, revealing earnings per share (EPS) of $1.67, surpassing analysts' expectations of $1.64 by $0.03. The company noted a return on equity of 9.01% and a net profit margin of 17.35%. The quarterly revenue totaled $2.44 billion, slightly above the consensus estimate of $2.41 billion. In comparison to the previous year, EPS showed a decline from $2.01 based on a 10.1% year-over-year decrease in quarterly revenue. Analysts project that Analog Devices will achieve an EPS of 7.09 for the current year.

Dividend Announcements

Recently, Analog Devices declared a quarterly dividend, paid on December 20th. Shareholders on record as of December 9th received a dividend of $0.92 per share, which translates to an annualized dividend of $3.68 with a yield of 1.79%. The ex-dividend date was also December 9th, and the company's payout ratio is reported at 111.85%.

Analyst Ratings and Price Targets

Analysts have recently provided updated assessments for Analog Devices. Morgan Stanley reduced its price target from $252.00 to $248.00 while maintaining an "overweight" rating. Needham & Company reaffirmed a "hold" rating, and Wells Fargo initiated coverage with a target price of $220.00, rating the stock as "equal weight." TD Cowen revised their price target down from $270.00 to $260.00 while retaining a "buy" rating, and Truist Financial increased their target from $216.00 to $230.00 while giving it a "hold" rating. Currently, seven analysts categorize the stock as a hold, while fourteen are in favor of buying, leading to a consensus rating of "Moderate Buy" and an average target price of $248.70.

About Analog Devices

Analog Devices, Inc. specializes in the design, manufacture, testing, and marketing of integrated circuits (ICs), software, and subsystem products. The company operates not only in the United States but also across various regions including Europe, Asia, and the Americas. Its offerings encompass data converter products that convert real-world analog signals into digital data and vice versa, alongside power management solutions for diverse applications within the automotive, communications, industrial, and consumer markets.

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