Swiss National Bank Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Swiss National Bank increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,472,875 shares of the semiconductor company's stock after buying an additional 4,600 shares during the quarter. Swiss National Bank owned about 0.30% of Analog Devices worth $339,012,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Analog Devices during the third quarter worth about $28,000. New Millennium Group LLC bought a new stake in Analog Devices during the 2nd quarter worth approximately $29,000. Archer Investment Corp raised its stake in shares of Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 73 shares during the last quarter. ORG Partners LLC lifted its holdings in shares of Analog Devices by 675.0% in the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, CVA Family Office LLC boosted its position in shares of Analog Devices by 40.2% during the second quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock valued at $36,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analog Devices Price Performance

NASDAQ ADI traded down $5.89 during trading hours on Friday, hitting $206.35. The company had a trading volume of 3,880,962 shares, compared to its average volume of 2,786,105. The firm has a 50 day simple moving average of $225.88 and a 200 day simple moving average of $225.34. Analog Devices, Inc. has a 52 week low of $178.66 and a 52 week high of $244.14. The firm has a market capitalization of $102.45 billion, a price-to-earnings ratio of 61.97, a PEG ratio of 2.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business's revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 EPS. Equities research analysts expect that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's payout ratio is 110.51%.

Insider Activity

In other Analog Devices news, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the transaction, the director now directly owns 4,748 shares in the company, valued at $1,078,935.52. This trade represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory M. Bryant sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the sale, the executive vice president now owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADI. JPMorgan Chase & Co. raised their price target on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Bank of America dropped their target price on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and dropped their price target for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and an average price target of $249.80.

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.