LRI Investments LLC Acquires 3,570 Shares of Analog Devices, Inc. (NASDAQ:ADI)

LRI Investments LLC lifted its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 4,576.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,648 shares of the semiconductor company's stock after buying an additional 3,570 shares during the period. LRI Investments LLC's holdings in Analog Devices were worth $774,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADI. Charles Schwab Investment Management Inc. boosted its stake in shares of Analog Devices by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,708,427 shares of the semiconductor company's stock worth $623,399,000 after buying an additional 39,186 shares during the last quarter. Swiss National Bank lifted its holdings in Analog Devices by 0.3% in the third quarter. Swiss National Bank now owns 1,472,875 shares of the semiconductor company's stock valued at $339,012,000 after acquiring an additional 4,600 shares during the period. Harvest Fund Management Co. Ltd boosted its position in Analog Devices by 47.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 22,870 shares of the semiconductor company's stock worth $5,264,000 after purchasing an additional 7,386 shares during the last quarter. Summit Global Investments bought a new stake in shares of Analog Devices during the 3rd quarter valued at about $867,000. Finally, Versor Investments LP purchased a new stake in shares of Analog Devices during the 3rd quarter valued at about $952,000. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $0.84 during trading on Monday, reaching $219.04. 2,466,977 shares of the stock traded hands, compared to its average volume of 3,265,104. Analog Devices, Inc. has a 52-week low of $180.37 and a 52-week high of $244.14. 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 business has a fifty day simple moving average of $223.17 and a two-hundred day simple moving average of $225.99. The company has a market capitalization of $108.71 billion, a price-to-earnings ratio of 66.32, a P/E/G ratio of 2.48 and a beta of 1.05.

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, beating the consensus estimate of $1.64 by $0.03. The business 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 firm's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. Sell-side analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a yield of 1.68%. Analog Devices's payout ratio is currently 111.85%.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total value 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 approximately $10,376,481.18. This trade represents a 18.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 20,000 shares of Analog Devices stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the transaction, the executive vice president now directly owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock worth $22,596,300 over the last ninety days. Company insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ADI shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Bank of America dropped their price target on shares of Analog Devices from $260.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company began coverage on Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price objective for the company. Oppenheimer reiterated an "outperform" rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Finally, Piper Sandler reduced their price target on Analog Devices from $235.00 to $220.00 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Analog Devices currently has an average 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.