Geode Capital Management LLC Purchases 135,838 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Geode Capital Management LLC grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,364,446 shares of the semiconductor company's stock after acquiring an additional 135,838 shares during the period. Geode Capital Management LLC owned about 2.09% of Analog Devices worth $2,377,094,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Baader Bank Aktiengesellschaft lifted its position in shares of Analog Devices by 3.9% during the second quarter. Baader Bank Aktiengesellschaft now owns 1,143 shares of the semiconductor company's stock worth $259,000 after purchasing an additional 43 shares during the last quarter. Grove Bank & Trust lifted its holdings in Analog Devices by 3.1% during the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock worth $333,000 after buying an additional 43 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in shares of Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after acquiring an additional 48 shares in the last quarter. Quotient Wealth Partners LLC grew its position in shares of Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock worth $455,000 after acquiring an additional 48 shares in the last quarter. Finally, Bank of Hawaii increased its holdings in shares of 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 acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Bank of America lowered their target price on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Wells Fargo & Company initiated coverage on shares of Analog Devices in a research note on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price objective on the stock. Truist Financial lowered their target price on Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a 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, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and an average price target of $249.33.

Insider Activity at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the completion of the sale, the chief executive officer now owns 45,326 shares in the company, valued at $10,376,481.18. This represents a 18.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices 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 completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is owned by corporate insiders.

Analog Devices Price Performance

NASDAQ:ADI traded down $3.43 during trading hours on Tuesday, reaching $215.61. 2,313,964 shares of the company's stock were exchanged, compared to its average volume of 3,218,040. Analog Devices, Inc. has a 12 month low of $181.80 and a 12 month high of $244.14. The business's 50-day simple moving average is $222.95 and its two-hundred day simple moving average is $225.88. The company has a market capitalization of $107.01 billion, a P/E ratio of 65.53, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05. 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 (NASDAQ:ADI - Get Free Report) last released its earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share for the quarter, topping 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 business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm posted $2.01 earnings per share. The firm's quarterly revenue was down 10.1% compared to the same quarter last year. Sell-side analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be given a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. Analog Devices's payout ratio is 111.85%.

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.