Analog Devices, Inc. (NASDAQ:ADI) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 14.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,358 shares of the semiconductor company's stock after purchasing an additional 2,418 shares during the period. First Trust Direct Indexing L.P.'s holdings in Analog Devices were worth $4,456,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Swedbank AB acquired a new position in Analog Devices during the first quarter worth $537,171,000. Vanguard Group Inc. raised its stake in shares of Analog Devices by 4.7% in the first quarter. Vanguard Group Inc. now owns 47,716,169 shares of the semiconductor company's stock valued at $9,437,781,000 after acquiring an additional 2,160,668 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock worth $346,834,000 after buying an additional 1,753,536 shares in the last quarter. Raymond James & Associates grew its holdings in Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock worth $540,463,000 after acquiring an additional 1,422,054 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Analog Devices by 19.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock valued at $1,614,735,000 after buying an additional 1,330,242 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Analog Devices Stock Down 1.3 %

Analog Devices stock traded down $3.06 during mid-day trading on Wednesday, reaching $232.17. The company's stock had a trading volume of 295,402 shares, compared to its average volume of 3,204,870. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. The business's 50 day simple moving average is $227.17 and its 200 day simple moving average is $222.82. The company has a market capitalization of $115.27 billion, a price-to-earnings ratio of 70.64, a price-to-earnings-growth ratio of 3.87 and a beta of 1.07. Analog Devices, Inc. has a 12 month low of $155.16 and a 12 month high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the company earned $2.49 earnings per share. The company's quarterly revenue was down 24.8% on a year-over-year basis. As a group, research analysts anticipate that Analog Devices, Inc. will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Analog Devices's dividend payout ratio is presently 110.51%.

Insiders Place Their Bets

In other news, EVP Gregory M. Bryant sold 30,000 shares of the business's 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 sale, the executive vice president now directly owns 109,093 shares in the company, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Analog Devices news, EVP Gregory M. Bryant sold 30,000 shares of the business's 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 transaction, the executive vice president now directly owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total value of $113,620.00. Following the sale, the director now owns 4,748 shares of the company's stock, valued at approximately $1,078,935.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,495 shares of company stock valued at $20,794,658. 0.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd. Barclays increased their target price on Analog Devices from $235.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 18th. Truist Financial cut Analog Devices from a "buy" rating to a "hold" rating and decreased their target price for the stock from $266.00 to $233.00 in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $249.80.

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.

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