Ascent Group LLC Grows Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Ascent Group LLC raised its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,691 shares of the semiconductor company’s stock after purchasing an additional 973 shares during the quarter. Ascent Group LLC’s holdings in Analog Devices were worth $4,723,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. 9258 Wealth Management LLC grew its stake in Analog Devices by 3.9% in the 4th quarter. 9258 Wealth Management LLC now owns 2,237 shares of the semiconductor company’s stock worth $444,000 after acquiring an additional 85 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in Analog Devices in the fourth quarter worth approximately $588,000. Dorsey & Whitney Trust CO LLC grew its stake in Analog Devices by 64.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,254 shares of the semiconductor company’s stock worth $845,000 after purchasing an additional 1,672 shares in the last quarter. Partners Capital Investment Group LLP purchased a new position in Analog Devices during the 4th quarter worth $277,000. Finally, Winslow Capital Management LLC raised its position in Analog Devices by 16.5% during the 4th quarter. Winslow Capital Management LLC now owns 1,295,809 shares of the semiconductor company’s stock valued at $257,296,000 after purchasing an additional 183,589 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $228.08, for a total value of $2,280,800.00. Following the completion of the transaction, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Edward H. Frank sold 995 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total transaction of $233,138.45. Following the completion of the transaction, the director now directly owns 3,753 shares in the company, valued at $879,365.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $228.08, for a total transaction of $2,280,800.00. Following the completion of the sale, the chief executive officer now directly owns 51,039 shares in the company, valued at $11,640,975.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,495 shares of company stock worth $13,904,458. 0.31% of the stock is currently owned by insiders.

Analog Devices Stock Performance

ADI opened at $232.05 on Friday. The company has a market cap of $115.15 billion, a P/E ratio of 54.22, a price-to-earnings-growth ratio of 3.75 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.69 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $222.95 and its 200-day moving average price is $217.39. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business posted $2.49 EPS. Analog Devices’s revenue for the quarter was down 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 6.34 EPS for the current fiscal year.

Analog Devices Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.59%. Analog Devices’s dividend payout ratio is currently 85.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ADI shares. Morgan Stanley increased their price target on Analog Devices from $250.00 to $257.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 target price on shares of Analog Devices in a report on Tuesday, July 16th. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of Analog Devices in a report on Thursday, August 22nd. Bank of America lowered their price target on shares of Analog Devices from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Truist Financial lowered shares of Analog Devices from a “buy” rating to a “hold” rating and cut their price objective for the company from $266.00 to $233.00 in a report on Monday, September 23rd. Seven 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.