Wellington Management Group LLP Grows Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Wellington Management Group LLP lifted its position in Analog Devices, Inc. (NASDAQ:ADI) by 16.6% during the third quarter, according to the company in its most recent filing 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 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Analog Devices in the third quarter worth $28,000. New Millennium Group LLC purchased a new position in Analog Devices during the 2nd quarter worth $29,000. Archer Investment Corp increased its position in Analog Devices by 101.4% during the 3rd quarter. Archer Investment Corp now owns 145 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Analog Devices in the second quarter valued at about $37,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in Analog Devices by 544.8% in the second quarter. Trifecta Capital Advisors LLC now owns 187 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI stock opened at $216.61 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 12-month low of $181.80 and a 12-month high of $244.14. The business’s 50 day moving average is $222.16 and its two-hundred day moving average is $225.46. The company has a market capitalization of $107.50 billion, a P/E ratio of 65.84, a P/E/G ratio of 2.47 and a beta of 1.05.

Analog Devices (NASDAQ:ADI) last announced its 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 analyst estimates of $2.41 billion. Analog Devices had a return on equity of 9.01% and a net margin of 17.35%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.01 EPS. Analysts expect that Analog Devices, Inc. will post 7.15 EPS 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. Investors of record on Monday, December 9th will be given 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 1.70%. Analog Devices’s dividend payout ratio (DPR) is presently 111.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Analog Devices from $252.00 to $248.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Truist Financial decreased their price target on shares of Analog Devices from $233.00 to $227.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Oppenheimer reissued an “outperform” rating and set a $245.00 price objective on shares of Analog Devices in a report on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $250.00 target price on shares of Analog Devices in a research note on Tuesday, October 8th. Finally, TD Cowen dropped their price target on Analog Devices from $270.00 to $260.00 and set a “buy” 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’s stock. Based on data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and an average price target of $249.33.

Insider Buying and Selling

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $215.83, for a total transaction of $2,158,300.00. Following the sale, the chief executive officer now owns 21,983 shares of the company’s stock, valued at $4,744,590.89. The trade was a 31.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gregory M. Bryant sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $223.87, for a total transaction of $4,477,400.00. Following the completion of the sale, the executive vice president now owns 59,093 shares of the company’s stock, valued at $13,229,149.91. This trade represents a 25.29 % 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 in the last 90 days. Insiders own 0.31% of the company’s stock.

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.