Swedbank AB Buys 487,727 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Swedbank AB grew its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,381,836 shares of the semiconductor company's stock after acquiring an additional 487,727 shares during the period. Analog Devices comprises 0.9% of Swedbank AB's portfolio, making the stock its 21st largest holding. Swedbank AB owned 0.68% of Analog Devices worth $718,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its holdings in shares of Analog Devices by 0.5% during the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after buying an additional 106,664 shares in the last quarter. Geode Capital Management LLC boosted its stake in Analog Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 10,364,446 shares of the semiconductor company's stock worth $2,377,094,000 after buying an additional 135,838 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Analog Devices by 14.9% during the 3rd quarter. Franklin Resources Inc. now owns 9,176,877 shares of the semiconductor company's stock worth $2,169,689,000 after acquiring an additional 1,189,940 shares during the period. FMR LLC boosted its position in shares of Analog Devices by 9.9% in the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock worth $1,700,640,000 after acquiring an additional 665,149 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Analog Devices by 17.3% in the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock valued at $1,078,617,000 after purchasing an additional 700,862 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were 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 owns 59,093 shares in the company, valued at $13,229,149.91. This trade represents a 25.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were 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 in the company, valued at approximately $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 50,000 shares of company stock worth $11,029,300 over the last 90 days. Corporate insiders own 0.31% of the company's stock.

Analog Devices Price Performance

NASDAQ:ADI traded up $0.39 during trading hours on Wednesday, reaching $209.91. 2,256,039 shares of the company's stock were exchanged, compared to its average volume of 3,315,911. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12 month low of $182.57 and a 12 month high of $244.14. The company has a market capitalization of $104.15 billion, a P/E ratio of 63.80, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The business's 50-day simple moving average is $216.52 and its two-hundred day simple moving average is $221.75.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.03. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The company's revenue for the quarter was down 10.1% on a year-over-year basis. Sell-side analysts expect that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

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 was Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.75%. Analog Devices's dividend payout ratio (DPR) is currently 111.85%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays decreased their price target on shares of Analog Devices from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Morgan Stanley reduced their target price on 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 reissued a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Truist Financial increased their price objective on shares of Analog Devices from $216.00 to $230.00 and gave the company a "hold" rating in a research report on Friday, January 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $248.70.

Analog Devices Company 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.