Park Place Capital Corp Reduces Stake in Analog Devices, Inc. (NASDAQ:ADI)

Park Place Capital Corp lessened its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 35.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 900 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Park Place Capital Corp’s holdings in Analog Devices were worth $191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Raymond James & Associates grew its stake in Analog Devices by 153.6% during the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company’s stock valued at $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Analog Devices by 14.9% in the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company’s stock valued at $2,169,689,000 after purchasing an additional 1,189,940 shares during the period. International Assets Investment Management LLC grew its position in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company’s stock valued at $2,043,000,000 after purchasing an additional 883,888 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Analog Devices by 807.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 959,686 shares of the semiconductor company’s stock worth $220,891,000 after purchasing an additional 853,931 shares during the period. Finally, Holocene Advisors LP raised its position in shares of Analog Devices by 336.4% in the third quarter. Holocene Advisors LP now owns 1,068,572 shares of the semiconductor company’s stock worth $245,953,000 after buying an additional 823,709 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Activity at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now owns 59,093 shares in the company, valued at $13,229,149.91. The trade was a 25.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the completion of the transaction, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,921,334.21. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $11,029,300 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Analog Devices Price Performance

Shares of Analog Devices stock opened at $224.08 on Thursday. The stock has a market capitalization of $111.18 billion, a P/E ratio of 68.11, a price-to-earnings-growth ratio of 2.51 and a beta of 1.05. Analog Devices, Inc. has a one year low of $182.57 and a one year high of $244.14. 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 business’s 50 day simple moving average is $215.66 and its two-hundred day simple moving average is $222.33.

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

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were paid a $0.92 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.64%. Analog Devices’s payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research analyst reports. TD Cowen decreased their target price on Analog Devices from $270.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of Analog Devices in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $220.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Truist Financial increased their price target on shares of Analog Devices from $216.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, Barclays dropped their price objective on shares of Analog Devices from $250.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.