Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Tenere Capital LLC

Tenere Capital LLC boosted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,232 shares of the semiconductor company's stock after acquiring an additional 3,008 shares during the quarter. Analog Devices makes up approximately 3.6% of Tenere Capital LLC's holdings, making the stock its 15th biggest holding. Tenere Capital LLC's holdings in Analog Devices were worth $13,403,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Analog Devices by 0.5% in the third quarter. State Street Corp now owns 22,571,586 shares of the semiconductor company's stock valued at $5,195,302,000 after purchasing an additional 106,664 shares during the last quarter. FMR LLC lifted its position in Analog Devices by 9.9% during the third quarter. FMR LLC now owns 7,388,628 shares of the semiconductor company's stock worth $1,700,640,000 after purchasing an additional 665,149 shares during the period. Van ECK Associates Corp lifted its position in Analog Devices by 17.3% during the third quarter. Van ECK Associates Corp now owns 4,754,759 shares of the semiconductor company's stock worth $1,078,617,000 after purchasing an additional 700,862 shares during the period. American Century Companies Inc. lifted its position in Analog Devices by 21.4% during the second quarter. American Century Companies Inc. now owns 4,351,585 shares of the semiconductor company's stock worth $993,293,000 after purchasing an additional 767,534 shares during the period. Finally, Legal & General Group Plc lifted its position in Analog Devices by 5.3% during the second quarter. Legal & General Group Plc now owns 4,222,326 shares of the semiconductor company's stock worth $963,788,000 after purchasing an additional 211,202 shares during the period. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Up 1.7 %

Shares of NASDAQ ADI traded up $3.65 during trading on Friday, reaching $218.20. The company had a trading volume of 3,189,366 shares, compared to its average volume of 3,278,270. The stock has a market cap of $108.29 billion, a PE ratio of 66.32, a P/E/G 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, Inc. has a 12-month low of $180.37 and a 12-month high of $244.14. The business's 50-day moving average is $223.17 and its 200 day moving average is $225.99.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.03. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The company's quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.01 earnings per share. As a group, equities analysts forecast that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Monday, December 9th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, December 9th. Analog Devices's dividend payout ratio (DPR) is presently 111.85%.

Analyst Ratings Changes

ADI has been the subject of several recent analyst reports. Wells Fargo & Company assumed coverage on shares of Analog Devices in a research report on Friday, November 22nd. They set an "equal weight" rating and a $220.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. TD Cowen cut their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, November 27th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. Finally, Truist Financial dropped their price objective on Analog Devices from $233.00 to $227.00 and set a "hold" rating on the stock in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $249.33.

Insider Buying and Selling

In other news, CEO Vincent Roche sold 10,000 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 $2,238,700.00. Following the sale, the chief executive officer now owns 21,983 shares in the company, valued at approximately $4,921,334.21. The trade was a 31.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory M. Bryant sold 20,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was 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 $13,229,149.91. This trade represents a 25.29 % decrease in their position. 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 in the last ninety days. 0.31% of the stock is owned by insiders.

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.