Principal Financial Group Inc. lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 605,596 shares of the semiconductor company's stock after acquiring an additional 16,051 shares during the period. Principal Financial Group Inc. owned 0.12% of Analog Devices worth $139,390,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its stake in Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock valued at $333,000 after acquiring an additional 43 shares during the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Analog Devices by 1.4% during the second quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after purchasing an additional 48 shares during the last quarter. Quotient Wealth Partners LLC lifted its holdings in shares of Analog Devices by 2.5% during the third quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after purchasing an additional 48 shares during the period. Bank of Hawaii grew its position in Analog Devices by 4.8% in the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock valued at $240,000 after buying an additional 48 shares during the last quarter. Finally, SouthState Corp increased its stake in Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company's stock valued at $51,000 after buying an additional 50 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, EVP Gregory M. Bryant sold 30,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total value of $2,238,700.00. Following the completion of the sale, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $24,754,600 over the last 90 days. Insiders own 0.31% of the company's stock.
Analog Devices Price Performance
ADI stock traded up $4.00 on Friday, reaching $211.78. The company had a trading volume of 6,602,945 shares, compared to its average volume of 3,245,979. The company's fifty day moving average is $220.26 and its 200 day moving average is $224.79. The company 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 company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a 1 year low of $181.80 and a 1 year high of $244.14.
Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. The company had revenue of $2.44 billion during 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 business's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 earnings per share. On average, research analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current year.
Analog Devices Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Monday, December 9th were issued a dividend of $0.92 per share. The ex-dividend date was Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.74%. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 target price for the company. Truist Financial lowered their price objective on Analog Devices from $233.00 to $227.00 and set a "hold" rating on the stock in a report on Wednesday, November 27th. Piper Sandler dropped their target price on Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Finally, TD Cowen dropped their price objective on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.
View Our Latest Report on Analog Devices
About Analog Devices
(
Free Report)
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.
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