Manning & Napier Advisors LLC Has $19.52 Million Position in Analog Devices, Inc. (NASDAQ:ADI)

Manning & Napier Advisors LLC lessened its stake in Analog Devices, Inc. (NASDAQ:ADI) by 25.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,883 shares of the semiconductor company’s stock after selling 32,022 shares during the period. Manning & Napier Advisors LLC’s holdings in Analog Devices were worth $19,521,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ADI. Charles Schwab Investment Management Inc. grew its position in Analog Devices by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company’s stock valued at $623,399,000 after buying an additional 39,186 shares during the period. Swiss National Bank raised its holdings in shares of Analog Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company’s stock worth $339,012,000 after purchasing an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company’s stock valued at $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Summit Global Investments bought a new position in Analog Devices during the third quarter valued at $867,000. Finally, Versor Investments LP purchased a new stake in Analog Devices in the third quarter worth $952,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Stock Performance

Shares of NASDAQ ADI traded up $1.32 during midday trading on Wednesday, hitting $210.84. 332,406 shares of the stock traded hands, compared to its average volume of 3,203,461. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. The firm has a market capitalization of $104.61 billion, a P/E ratio of 64.10, a PEG ratio of 2.57 and a beta of 1.05. The firm has a 50-day moving average of $216.52 and a two-hundred day moving average of $221.75.

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

Analog Devices Announces Dividend

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. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.75%. Analog Devices’s dividend payout ratio is currently 111.85%.

Analysts Set New Price Targets

ADI has been the topic of a number of analyst reports. TD Cowen lowered their target price on shares of 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 target price on Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Morgan Stanley lowered their price target on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 price objective on shares of Analog Devices in a research report on Tuesday, October 8th. Finally, Piper Sandler lowered their target price on shares of Analog Devices from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average price target of $248.70.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company’s stock, valued at approximately $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $11,029,300 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

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.