Deprince Race & Zollo Inc. Sells 20,825 Shares of Analog Devices, Inc. $ADI

Deprince Race & Zollo Inc. reduced its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 20.0% in the third quarter, Holdings Channel reports. The firm owned 83,497 shares of the semiconductor company’s stock after selling 20,825 shares during the period. Deprince Race & Zollo Inc.’s holdings in Analog Devices were worth $20,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADI. Vanguard Group Inc. grew its position in Analog Devices by 1.5% during the second quarter. Vanguard Group Inc. now owns 50,227,231 shares of the semiconductor company’s stock worth $11,955,086,000 after buying an additional 761,861 shares in the last quarter. State Street Corp raised its holdings in shares of Analog Devices by 2.2% in the 2nd quarter. State Street Corp now owns 23,317,256 shares of the semiconductor company’s stock valued at $5,549,973,000 after acquiring an additional 506,507 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Analog Devices by 5.7% during the 2nd quarter. Geode Capital Management LLC now owns 11,687,660 shares of the semiconductor company’s stock valued at $2,770,448,000 after acquiring an additional 633,425 shares during the last quarter. Norges Bank purchased a new position in shares of Analog Devices during the second quarter worth about $1,803,377,000. Finally, Ameriprise Financial Inc. increased its position in shares of Analog Devices by 6.3% in the second quarter. Ameriprise Financial Inc. now owns 6,326,772 shares of the semiconductor company’s stock worth $1,506,448,000 after purchasing an additional 375,207 shares during the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Analog Devices stock opened at $276.84 on Friday. The firm has a fifty day simple moving average of $254.03 and a two-hundred day simple moving average of $244.26. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $284.23. The company has a market capitalization of $135.55 billion, a PE ratio of 60.71, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24.

Analog Devices (NASDAQ:ADI) last released its quarterly earnings data on Tuesday, November 25th. The semiconductor company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.22 by $0.04. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the business earned $1.67 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Research analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Monday, December 8th were given a $0.99 dividend. The ex-dividend date was Monday, December 8th. This represents a $3.96 annualized dividend and a yield of 1.4%. Analog Devices’s payout ratio is presently 86.84%.

Analyst Ratings Changes

Several brokerages have issued reports on ADI. Morgan Stanley lifted their target price on shares of Analog Devices from $288.00 to $293.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. UBS Group increased their target price on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, December 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Analog Devices in a research note on Tuesday, November 25th. Finally, BNP Paribas began coverage on Analog Devices in a report on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.22.

Insider Activity

In other news, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the transaction, the director owned 5,118 shares in the company, valued at approximately $1,242,343.32. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the completion of the transaction, the chief executive officer directly owned 163,640 shares in the company, valued at approximately $38,447,218. The trade was a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 40,419 shares of company stock valued at $10,249,017. Corporate insiders own 0.33% of the company’s stock.

Analog Devices Profile

Analog Devices, Inc (NASDAQ: ADI) is a multinational semiconductor company that designs, manufactures and markets a broad portfolio of analog, mixed-signal and digital signal processing integrated circuits. Founded in 1965 by Ray Stata and Matthew Lorber, the company has grown into a leading supplier of components that convert, condition and process real-world signals for electronic systems. Analog Devices is headquartered in Massachusetts and serves customers around the world across multiple end markets.

The company’s product lineup includes data converters (ADCs and DACs), amplifiers, power management ICs, radio-frequency (RF) and microwave components, sensors and MEMS devices, signal chain and isolation products, timing and clocking solutions, and embedded processors and software for system-level design.