Assenagon Asset Management S.A. Boosts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Assenagon Asset Management S.A. raised its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 432.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,570 shares of the semiconductor company's stock after acquiring an additional 110,904 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Analog Devices were worth $29,016,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC lifted its position in shares of Analog Devices by 28.1% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,317 shares of the semiconductor company's stock worth $1,979,000 after purchasing an additional 2,043 shares during the last quarter. Pines Wealth Management LLC bought a new stake in Analog Devices in the 4th quarter valued at $281,000. Sovereign Financial Group Inc. boosted its position in shares of Analog Devices by 6.4% during the 4th quarter. Sovereign Financial Group Inc. now owns 1,536 shares of the semiconductor company's stock valued at $326,000 after acquiring an additional 92 shares in the last quarter. West Oak Capital LLC increased its stake in Analog Devices by 0.4% in the fourth quarter. West Oak Capital LLC now owns 12,509 shares of the semiconductor company's stock valued at $2,658,000 after acquiring an additional 55 shares during the period. Finally, Cullen Investment Group LTD. raised its position in Analog Devices by 4.0% in the fourth quarter. Cullen Investment Group LTD. now owns 21,232 shares of the semiconductor company's stock worth $4,511,000 after purchasing an additional 813 shares in the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Activity at Analog Devices

In other 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 transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. The trade was a 25.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $215.49, for a total value of $2,154,900.00. Following the transaction, the chief executive officer now owns 21,983 shares in the company, valued at $4,737,116.67. This trade represents a 31.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,000 shares of company stock worth $11,029,300. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Up 1.9 %

Shares of NASDAQ ADI traded up $4.14 during trading on Friday, hitting $219.16. The stock had a trading volume of 2,871,098 shares, compared to its average volume of 3,007,400. 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 firm has a fifty day moving average of $215.78 and a two-hundred day moving average of $222.60. 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 $108.77 billion, a PE ratio of 66.61, a PEG ratio of 2.43 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company's quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.01 EPS. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.09 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Monday, December 9th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is currently 111.85%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ADI shares. TD Cowen lowered their price objective 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. Truist Financial increased their price target on Analog Devices from $216.00 to $230.00 and gave the stock a "hold" rating in a research report on Friday, January 10th. Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Wells Fargo & Company initiated coverage on Analog Devices in a report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 target price on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and a consensus target price of $247.57.

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.