Weiss Asset Management LP Makes New Investment in Analog Devices, Inc. (NASDAQ:ADI)

Weiss Asset Management LP acquired a new position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,550 shares of the semiconductor company's stock, valued at approximately $2,198,000.

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

Insider Activity

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $228.93, for a total transaction of $2,289,300.00. Following the transaction, the chief executive officer now owns 45,326 shares in the company, valued at approximately $10,376,481.18. This represents a 18.07 % decrease in their position. The sale 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 the business's stock in a transaction 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 sale, the executive vice president now directly owns 109,093 shares in the company, valued at $24,447,741.30. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,000 shares of company stock worth $22,596,300. Insiders own 0.31% of the company's stock.

Analog Devices Stock Up 1.7 %

ADI stock traded up $3.65 during trading on Friday, hitting $218.20. 3,189,366 shares of the company's stock traded hands, compared to its average volume of 3,278,270. The firm has a market capitalization of $108.29 billion, a P/E ratio of 66.32, a PEG ratio of 2.48 and a beta of 1.05. Analog Devices, Inc. has a 1 year low of $180.37 and a 1 year high of $244.14. The company has a quick ratio of 1.35, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $223.17 and a two-hundred day simple moving average of $226.09.

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. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $2.01 EPS. The business's revenue was down 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 1.69%. The ex-dividend date is Monday, December 9th. Analog Devices's payout ratio is presently 111.85%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ADI shares. Morgan Stanley cut their price objective on Analog Devices from $252.00 to $248.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Oppenheimer reaffirmed an "outperform" rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. TD Cowen lowered their target price on Analog Devices from $270.00 to $260.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Finally, Truist Financial lowered their price objective on shares of Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $249.33.

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.