Principal Financial Group Inc. Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Principal Financial Group Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 605,596 shares of the semiconductor company's stock after buying an additional 16,051 shares during the period. Principal Financial Group Inc. owned 0.12% of Analog Devices worth $139,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in Analog Devices during the 3rd quarter worth about $28,000. New Millennium Group LLC bought a new stake in Analog Devices in the second quarter worth approximately $29,000. Archer Investment Corp lifted its stake in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after buying an additional 73 shares during the period. Trifecta Capital Advisors LLC boosted its holdings in shares of Analog Devices by 544.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company's stock worth $43,000 after buying an additional 158 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Analog Devices during the 3rd quarter worth approximately $43,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Performance

NASDAQ:ADI opened at $211.78 on Friday. Analog Devices, Inc. has a twelve month low of $181.80 and a twelve month high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $105.11 billion, a P/E ratio of 64.37, a PEG ratio of 2.47 and a beta of 1.05. The business's 50-day moving average price is $220.26 and its two-hundred day moving average price is $224.83.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its 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 business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The firm's revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 earnings per share. As a group, equities analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.74%. Analog Devices's dividend payout ratio is currently 111.85%.

Wall Street Analysts Forecast Growth

ADI has been the subject of a number of research reports. Wells Fargo & Company began coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price target for the company. Truist Financial reduced their target price on Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research note on Wednesday, November 27th. Piper Sandler dropped their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley reduced their price objective on Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.

Insiders Place Their Bets

In other news, 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 value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company's stock, valued at $24,447,741.30. The trade was a 21.57 % 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 firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total value of $2,158,300.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at approximately $4,744,590.89. This trade represents a 31.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock valued at $24,754,600 in the last quarter. Insiders own 0.31% of the company's stock.

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.