Zurich Insurance Group Ltd FI Lowers Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Zurich Insurance Group Ltd FI lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 264,657 shares of the semiconductor company's stock after selling 5,232 shares during the quarter. Zurich Insurance Group Ltd FI owned 0.05% of Analog Devices worth $60,916,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Analog Devices in the 3rd quarter valued at $28,000. New Millennium Group LLC acquired a new stake in shares of Analog Devices during the second quarter worth about $29,000. Archer Investment Corp boosted its position in Analog Devices by 101.4% in the third quarter. Archer Investment Corp now owns 145 shares of the semiconductor company's stock valued at $33,000 after buying an additional 73 shares during the last quarter. ORG Partners LLC increased its holdings in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company's stock worth $35,000 after buying an additional 135 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in Analog Devices during the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 86.81% of the company's stock.

Analog Devices Price Performance

Shares of Analog Devices stock traded up $3.65 during trading hours on Friday, reaching $218.20. 3,189,366 shares of the company's stock were exchanged, compared to its average volume of 3,278,270. The company has a market capitalization of $108.29 billion, a P/E ratio of 66.32, a price-to-earnings-growth 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 1 year low of $180.37 and a 1 year high of $244.14. The business has a fifty day moving average of $223.45 and a two-hundred day moving average of $226.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business earned $2.01 earnings per share. The business's revenue was down 10.1% compared to the same quarter last year. As a group, research analysts predict that Analog Devices, Inc. will post 7.15 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.92 per share. The ex-dividend date is Monday, December 9th. This represents a $3.68 annualized dividend and a dividend yield of 1.69%. Analog Devices's dividend payout ratio is presently 111.85%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ADI shares. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Wednesday, November 27th. Bank of America decreased their price target on Analog Devices from $260.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Morgan Stanley dropped their price objective on shares of Analog Devices from $252.00 to $248.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company started coverage on shares of Analog Devices in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $220.00 target price for the company. Finally, Piper Sandler lowered 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 investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $249.33.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 21,983 shares in the company, valued at approximately $4,921,334.21. This represents a 31.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $6,723,000.00. Following the sale, the executive vice president now directly owns 109,093 shares of the company's stock, valued at $24,447,741.30. The trade was a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,000 shares of company stock valued at $22,596,300. 0.31% of the stock is currently 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.