Wellington Management Group LLP Purchases 6,164 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Wellington Management Group LLP lifted its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 16.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,349 shares of the semiconductor company's stock after buying an additional 6,164 shares during the period. Wellington Management Group LLP's holdings in Analog Devices were worth $9,978,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ADI. Grove Bank & Trust grew its stake in shares of Analog Devices by 3.1% in the 3rd quarter. Grove Bank & Trust now owns 1,445 shares of the semiconductor company's stock worth $333,000 after acquiring an additional 43 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in Analog Devices by 1.4% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,482 shares of the semiconductor company's stock worth $795,000 after purchasing an additional 48 shares in the last quarter. Quotient Wealth Partners LLC increased its stake in Analog Devices by 2.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,977 shares of the semiconductor company's stock valued at $455,000 after buying an additional 48 shares during the last quarter. Bank of Hawaii lifted its position in shares of Analog Devices by 4.8% during the 3rd quarter. Bank of Hawaii now owns 1,043 shares of the semiconductor company's stock worth $240,000 after buying an additional 48 shares in the last quarter. Finally, SouthState Corp boosted its stake in shares of Analog Devices by 28.6% in the 2nd quarter. SouthState Corp now owns 225 shares of the semiconductor company's stock worth $51,000 after buying an additional 50 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

NASDAQ ADI traded down $0.30 on Monday, hitting $216.31. The stock had a trading volume of 3,409,727 shares, compared to its average volume of 3,225,806. The firm has a 50-day moving average of $221.96 and a 200-day moving average of $225.36. The company has a market capitalization of $107.35 billion, a price-to-earnings ratio of 65.75, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.84. Analog Devices, Inc. has a 52-week low of $181.80 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. The firm's revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 earnings per share. Equities analysts expect that Analog Devices, Inc. will post 7.15 EPS for the current year.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, December 9th. Analog Devices's dividend payout ratio is currently 111.85%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADI shares. JPMorgan Chase & Co. increased their price target on Analog Devices from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $250.00 target price on shares of Analog Devices in a research report on Tuesday, October 8th. Wells Fargo & Company started coverage on shares of Analog Devices in a report on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 price target on the stock. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Wednesday, November 27th. Finally, Truist Financial dropped their target price on shares of 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 research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and a consensus price target of $249.33.

Insider Buying and Selling at Analog Devices

In related news, EVP Gregory M. Bryant sold 30,000 shares of the firm'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 transaction, the executive vice president now directly owns 109,093 shares of the company's stock, valued at approximately $24,447,741.30. This trade represents a 21.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vincent Roche sold 10,000 shares of the 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 $10,376,481.18. The trade was a 18.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock worth $24,754,600 over the last three months. 0.31% of the stock is owned by insiders.

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.