Covestor Ltd Buys 560 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Covestor Ltd boosted its stake in Analog Devices, Inc. (NASDAQ:ADIGet Rating) by 86.0% during the 1st quarter, HoldingsChannel reports. The fund owned 1,211 shares of the semiconductor company’s stock after acquiring an additional 560 shares during the quarter. Covestor Ltd’s holdings in Analog Devices were worth $200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADI. Parkside Financial Bank & Trust raised its holdings in shares of Analog Devices by 38.0% in the first quarter. Parkside Financial Bank & Trust now owns 897 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 247 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in Analog Devices by 11.9% during the first quarter. Brown Brothers Harriman & Co. now owns 2,291 shares of the semiconductor company’s stock worth $378,000 after acquiring an additional 243 shares in the last quarter. Baird Financial Group Inc. boosted its position in Analog Devices by 9.4% during the first quarter. Baird Financial Group Inc. now owns 349,536 shares of the semiconductor company’s stock valued at $57,736,000 after purchasing an additional 30,146 shares during the last quarter. Candriam Luxembourg S.C.A. grew its stake in Analog Devices by 55.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 466,154 shares of the semiconductor company’s stock valued at $76,996,000 after purchasing an additional 166,693 shares in the last quarter. Finally, National Pension Service increased its position in shares of Analog Devices by 5.4% during the 1st quarter. National Pension Service now owns 808,321 shares of the semiconductor company’s stock worth $133,518,000 after purchasing an additional 41,488 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.

Analog Devices Trading Up 0.9 %

Shares of Analog Devices stock opened at $152.13 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.92. The firm has a 50-day moving average of $161.25 and a 200-day moving average of $159.03. Analog Devices, Inc. has a 52-week low of $138.50 and a 52-week high of $191.95. The stock has a market cap of $78.25 billion, a PE ratio of 42.02, a PEG ratio of 1.28 and a beta of 1.16.

Analog Devices (NASDAQ:ADIGet Rating) last posted its quarterly earnings data on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. Analog Devices had a net margin of 17.00% and a return on equity of 11.92%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The business’s revenue for the quarter was up 76.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 9.42 EPS for the current year.

Analog Devices Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Tuesday, August 30th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $3.04 dividend on an annualized basis and a yield of 2.00%. Analog Devices’s dividend payout ratio (DPR) is presently 83.98%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ADI shares. Robert W. Baird reissued an “outperform” rating and issued a $220.00 target price on shares of Analog Devices in a research note on Friday, August 19th. Citigroup lifted their price objective on shares of Analog Devices from $192.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Needham & Company LLC cut shares of Analog Devices from a “buy” rating to a “hold” rating in a report on Thursday, August 18th. Truist Financial lifted their price target on Analog Devices from $203.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Finally, Morgan Stanley dropped their price objective on Analog Devices from $186.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Friday, June 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $196.61.

Insider Buying and Selling at Analog Devices

In related news, Director Tunc Doluca sold 2,400 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $150.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now owns 86,357 shares of the company’s stock, valued at $12,953,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Tunc Doluca sold 2,400 shares of Analog Devices stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $150.00, for a total value of $360,000.00. Following the transaction, the director now directly owns 86,357 shares of the company’s stock, valued at $12,953,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Evans acquired 3,650 shares of the stock in a transaction on Friday, June 17th. The shares were purchased at an average price of $144.16 per share, with a total value of $526,184.00. Following the completion of the transaction, the director now owns 104,008 shares of the company’s stock, valued at $14,993,793.28. The disclosure for this purchase can be found here. Insiders sold 51,700 shares of company stock valued at $8,827,200 in the last three months. Corporate insiders own 0.91% of the company’s stock.

Analog Devices Company Profile

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Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. 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 high-end consumer markets; and power ICs include performance, integration, and software design simulation tools for accurate power supply designs.

Further Reading

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Institutional Ownership by Quarter for Analog Devices (NASDAQ:ADI)

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