Worldquant Millennium Advisors LLC Buys Shares of 47,987 Analog Devices, Inc. (NASDAQ:ADI)

Worldquant Millennium Advisors LLC acquired a new stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 47,987 shares of the semiconductor company's stock, valued at approximately $11,045,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in Analog Devices by 1.5% in 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 during the period. Swiss National Bank boosted its position in shares of Analog Devices by 0.3% in 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 holdings in Analog Devices by 47.7% in 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 purchasing an additional 7,386 shares during the period. Summit Global Investments acquired a new position in Analog Devices during the third quarter worth approximately $867,000. Finally, Versor Investments LP purchased a new position in Analog Devices during the third quarter worth approximately $952,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Wall Street Analyst Weigh In

ADI has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a "neutral" rating and set a $250.00 price objective on shares of Analog Devices in a report on Tuesday, October 8th. Truist Financial dropped their price target on Analog Devices from $233.00 to $227.00 and set a "hold" rating for the company in a research note 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. JPMorgan Chase & Co. boosted 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. Finally, Piper Sandler cut their price target on shares of Analog Devices from $235.00 to $220.00 and set a "neutral" rating on the stock in a report 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $249.33.

Insiders Place Their Bets

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $228.93, for a total value of $2,289,300.00. Following the sale, the chief executive officer now directly owns 45,326 shares in the company, valued at approximately $10,376,481.18. This trade represents a 18.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory M. Bryant sold 30,000 shares of the company'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 owns 109,093 shares of the company's stock, valued at $24,447,741.30. This represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock valued at $22,596,300 over the last 90 days. 0.31% of the stock is owned by company insiders.

Analog Devices Stock Up 1.7 %

Shares of ADI traded up $3.65 during trading on Friday, reaching $218.20. The company's stock had a trading volume of 3,189,366 shares, compared to its average volume of 3,278,270. Analog Devices, Inc. has a twelve month low of $180.37 and a twelve month 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 company has a market cap of $108.29 billion, a price-to-earnings ratio of 66.32, a P/E/G ratio of 2.48 and a beta of 1.05. The company has a fifty day moving average of $223.17 and a two-hundred day moving average of $226.09.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.41 billion. Analog Devices had a net margin of 17.35% and a return on equity of 9.01%. The company's quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.01 earnings per share. On average, sell-side analysts predict that Analog Devices, Inc. will post 7.15 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Monday, December 9th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend 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%.

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.