Sei Investments Co. Has $66.21 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Sei Investments Co. lowered its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 311,655 shares of the semiconductor company’s stock after selling 8,241 shares during the period. Sei Investments Co. owned approximately 0.06% of Analog Devices worth $66,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Mizuho Securities USA LLC increased its position in shares of Analog Devices by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 47,056 shares of the semiconductor company’s stock worth $9,998,000 after purchasing an additional 14,879 shares during the period. Millstone Evans Group LLC bought a new position in Analog Devices in the 4th quarter valued at about $245,000. Washington Trust Bank raised its position in shares of Analog Devices by 306.5% in the 4th quarter. Washington Trust Bank now owns 9,521 shares of the semiconductor company’s stock valued at $2,023,000 after buying an additional 7,179 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of Analog Devices by 5.5% during the 4th quarter. iA Global Asset Management Inc. now owns 55,063 shares of the semiconductor company’s stock worth $11,699,000 after acquiring an additional 2,881 shares during the period. Finally, Talos Asset Management LP acquired a new stake in shares of Analog Devices during the 4th quarter worth approximately $24,497,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the sale, the chief executive officer now directly owns 64,918 shares in the company, valued at approximately $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,000 shares of company stock worth $5,082,860. Company insiders own 0.33% of the company’s stock.

Analog Devices Price Performance

Shares of ADI opened at $204.40 on Monday. The business has a 50-day moving average of $217.17 and a 200-day moving average of $219.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.43. The company has a market capitalization of $101.38 billion, a price-to-earnings ratio of 65.10, a price-to-earnings-growth ratio of 2.85 and a beta of 1.07. Analog Devices, Inc. has a 1 year low of $182.57 and a 1 year high of $247.10.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings results on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.09. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the business earned $1.73 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.94%. This is a boost from Analog Devices’s previous quarterly dividend of $0.92. Analog Devices’s dividend payout ratio is 126.11%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial boosted their price objective on shares of Analog Devices from $230.00 to $248.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Maxim Group began coverage on Analog Devices in a research report on Friday, February 14th. They set a “buy” rating for the company. Williams Trading set a $245.00 target price on Analog Devices in a research report on Friday, February 14th. Barclays lowered their target price on Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC restated a “hold” rating on shares of Analog Devices in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.41.

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.