Prospera Financial Services Inc raised its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,825 shares of the semiconductor company's stock after purchasing an additional 3,395 shares during the period. Prospera Financial Services Inc's holdings in Analog Devices were worth $9,629,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADI. Swedbank AB purchased a new position in Analog Devices in the 1st quarter valued at about $537,171,000. Canada Pension Plan Investment Board lifted its holdings in Analog Devices by 17,535,360.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock valued at $346,834,000 after purchasing an additional 1,753,536 shares in the last quarter. Raymond James & Associates increased its stake in shares of Analog Devices by 153.6% during the 3rd quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock valued at $540,463,000 after acquiring an additional 1,422,054 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Analog Devices by 19.5% during the 1st 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 acquiring an additional 1,330,242 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Analog Devices by 23,792.4% during the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock valued at $2,043,000,000 after acquiring an additional 883,888 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Stock Performance
Shares of ADI stock traded down $0.53 during trading on Tuesday, reaching $209.12. The company had a trading volume of 1,009,428 shares, compared to its average volume of 3,210,906. The firm's 50 day simple moving average is $225.70 and its two-hundred day simple moving average is $225.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. Analog Devices, Inc. has a one year low of $179.44 and a one year high of $244.14. The company has a market capitalization of $103.83 billion, a PE ratio of 62.65, a PEG ratio of 2.89 and a beta of 1.08.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a return on equity of 9.47% and a net margin of 17.07%. The company's revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Sell-side analysts forecast that Analog Devices, Inc. will post 6.34 earnings per share for the current year.
Analog Devices Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Tuesday, September 3rd. Analog Devices's payout ratio is presently 110.51%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ADI. JPMorgan Chase & Co. upped 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. Truist Financial downgraded shares of Analog Devices from a "buy" rating to a "hold" rating and dropped their price objective for the company from $266.00 to $233.00 in a research note on Monday, September 23rd. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd. Morgan Stanley increased their target price on shares of Analog Devices from $250.00 to $257.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Finally, Oppenheimer reissued an "outperform" rating and set a $245.00 target price on shares of Analog Devices in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.80.
Get Our Latest Stock Report on ADI
Insider Transactions at Analog Devices
In related news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $228.69, for a total value of $2,286,900.00. Following the sale, the chief executive officer now owns 51,039 shares of the company's stock, valued at $11,672,108.91. The trade was a 16.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward H. Frank sold 500 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $227.24, for a total value of $113,620.00. Following the completion of the transaction, the director now directly owns 4,748 shares in the company, valued at approximately $1,078,935.52. This represents a 9.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,495 shares of company stock valued at $25,229,958. 0.31% of the stock is owned by corporate insiders.
About Analog Devices
(
Free Report)
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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