Franklin Resources Inc. Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Franklin Resources Inc. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 14.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,176,877 shares of the semiconductor company's stock after acquiring an additional 1,189,940 shares during the period. Analog Devices comprises approximately 0.6% of Franklin Resources Inc.'s investment portfolio, making the stock its 26th largest holding. Franklin Resources Inc. owned 1.85% of Analog Devices worth $2,169,689,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Analog Devices by 0.5% during the 3rd quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock worth $5,195,302,000 after acquiring an additional 106,664 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $2,377,094,000 after acquiring an additional 135,838 shares during the period. FMR LLC boosted its holdings in shares of Analog Devices by 9.9% during 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 period. Van ECK Associates Corp grew its position in shares of 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 last quarter. Finally, American Century Companies Inc. increased its stake in shares of Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company's stock worth $993,293,000 after purchasing an additional 767,534 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Down 0.5 %

NASDAQ ADI traded down $1.11 on Friday, hitting $216.61. The company's stock had a trading volume of 2,720,710 shares, compared to its average volume of 3,223,615. Analog Devices, Inc. has a 1-year low of $181.80 and a 1-year 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 firm has a market cap of $107.50 billion, a PE ratio of 65.13, a PEG ratio of 2.47 and a beta of 1.05. The company's 50-day moving average is $222.40 and its 200 day moving average is $225.64.

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

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices's payout ratio is 111.85%.

Insider Transactions at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the transaction, the chief executive officer now owns 21,983 shares of the company's stock, valued at $4,744,590.89. This trade represents a 31.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value of $6,867,900.00. Following the completion of the transaction, the executive vice president now owns 79,093 shares of the company's stock, valued at $18,106,760.49. This trade represents a 27.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,000 shares of company stock valued at $24,754,600 over the last ninety days. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

ADI has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Piper Sandler cut their price objective on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a research report on Tuesday, October 8th. TD Cowen reduced their price target on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Finally, Bank of America lowered their price objective on Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $249.33.

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.