Principal Financial Group Inc. Grows Stake in Analog Devices, Inc. (NASDAQ:ADI)

Principal Financial Group Inc. lifted its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 605,596 shares of the semiconductor company's stock after purchasing an additional 16,051 shares during the period. Principal Financial Group Inc. owned about 0.12% of Analog Devices worth $139,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New Millennium Group LLC purchased a new position in shares of Analog Devices in the 2nd quarter worth approximately $29,000. ORG Partners LLC increased its position in shares of Analog Devices by 675.0% during the second quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after purchasing an additional 135 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of Analog Devices by 40.2% during the 2nd quarter. CVA Family Office LLC now owns 157 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Analog Devices in the 2nd quarter worth $37,000. Finally, Trifecta Capital Advisors LLC grew its stake in Analog Devices by 544.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company's stock worth $43,000 after buying an additional 158 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 price target on shares of Analog Devices in a report on Tuesday, October 8th. Morgan Stanley lifted their price target on Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Barclays increased their price objective on Analog Devices from $235.00 to $250.00 and gave the company an "equal weight" rating in a report on Thursday, July 18th. Truist Financial lowered Analog Devices from a "buy" rating to a "hold" rating and dropped their target price for the company from $266.00 to $233.00 in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.80.

Insider Transactions at Analog Devices

In related news, EVP Gregory M. Bryant sold 20,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the sale, the executive vice president now directly owns 59,093 shares in the company, valued at approximately $13,229,149.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Gregory M. Bryant sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $223.87, for a total value of $4,477,400.00. Following the completion of the transaction, the executive vice president now owns 59,093 shares of the company's stock, valued at approximately $13,229,149.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory M. Bryant sold 30,000 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $224.10, for a total transaction of $6,723,000.00. Following the completion of the transaction, the executive vice president now owns 109,093 shares of the company's stock, valued at $24,447,741.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,495 shares of company stock worth $25,229,958. 0.31% of the stock is currently owned by company insiders.

Analog Devices Trading Down 0.9 %

Shares of NASDAQ ADI traded down $1.97 during trading on Friday, hitting $225.80. 3,426,964 shares of the company were exchanged, compared to its average volume of 2,521,661. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69. Analog Devices, Inc. has a 12-month low of $166.78 and a 12-month high of $244.14. The company has a fifty day moving average price of $226.61 and a 200-day moving average price of $224.39. The firm has a market capitalization of $112.11 billion, a PE ratio of 67.81, a P/E/G ratio of 3.17 and a beta of 1.08.

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

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's dividend payout ratio (DPR) is presently 110.51%.

About Analog Devices

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.