Assenagon Asset Management S.A. Cuts Stake in Analog Devices, Inc. (NASDAQ:ADI)

Assenagon Asset Management S.A. reduced its stake in shares of Analog Devices, Inc. (NASDAQ:ADIFree Report) by 79.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,345 shares of the semiconductor company’s stock after selling 92,528 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Analog Devices were worth $4,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Concord Wealth Partners lifted its position in Analog Devices by 107.9% in the second quarter. Concord Wealth Partners now owns 131 shares of the semiconductor company’s stock worth $26,000 after buying an additional 68 shares during the last quarter. Halpern Financial Inc. lifted its position in shares of Analog Devices by 331.4% during the third quarter. Halpern Financial Inc. now owns 151 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 116 shares during the last quarter. Archer Investment Corp bought a new stake in shares of Analog Devices during the second quarter worth $30,000. Fortis Capital Advisors LLC bought a new stake in shares of Analog Devices during the first quarter worth $31,000. Finally, Nemes Rush Group LLC bought a new stake in shares of Analog Devices during the second quarter worth $32,000. 85.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley upgraded Analog Devices from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $176.00 to $225.00 in a research report on Friday, November 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $205.00 target price on shares of Analog Devices in a research report on Monday. Barclays lifted their target price on Analog Devices from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. StockNews.com began coverage on Analog Devices in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Evercore ISI raised their price target on Analog Devices from $200.00 to $210.00 in a research note on Thursday, October 5th. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.56.

View Our Latest Analysis on ADI

Analog Devices Stock Performance

ADI opened at $192.36 on Thursday. The company has a market cap of $95.38 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 2.89 and a beta of 1.21. The company has a quick ratio of 0.86, a current ratio of 1.37 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $191.22 and its 200-day moving average price is $182.68. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $202.77.

Analog Devices (NASDAQ:ADIGet Free Report) last issued its quarterly earnings results on Tuesday, November 21st. The semiconductor company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.01). Analog Devices had a net margin of 26.94% and a return on equity of 14.18%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the company posted $2.73 EPS. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.05 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Monday, December 4th were paid a dividend of $0.86 per share. The ex-dividend date was Friday, December 1st. This represents a $3.44 dividend on an annualized basis and a yield of 1.79%. Analog Devices’s payout ratio is 52.60%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 17,038 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $183.66, for a total transaction of $3,129,199.08. Following the transaction, the executive vice president now owns 5,815 shares in the company, valued at approximately $1,067,982.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $197.07, for a total value of $1,970,700.00. Following the sale, the chief executive officer now directly owns 5,713 shares of the company’s stock, valued at approximately $1,125,860.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek Jain sold 17,038 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $183.66, for a total transaction of $3,129,199.08. Following the completion of the sale, the executive vice president now directly owns 5,815 shares in the company, valued at $1,067,982.90. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

About Analog Devices

(Free Report)

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.

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

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