Artemis Investment Management LLP trimmed its position in Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,669 shares of the semiconductor company's stock after selling 311 shares during the quarter. Artemis Investment Management LLP's holdings in Analog Devices were worth $4,783,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital International Investors lifted its stake in shares of Analog Devices by 26.6% during the 4th quarter. Capital International Investors now owns 2,437,353 shares of the semiconductor company's stock worth $428,414,000 after purchasing an additional 511,766 shares during the last quarter. Credit Agricole S A lifted its stake in shares of Analog Devices by 400.2% during the 4th quarter. Credit Agricole S A now owns 10,289 shares of the semiconductor company's stock worth $1,809,000 after purchasing an additional 8,232 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of Analog Devices by 1,631.1% during the 4th quarter. Comgest Global Investors S.A.S. now owns 842,889 shares of the semiconductor company's stock worth $148,155,000 after purchasing an additional 794,198 shares during the last quarter. Cloverfields Capital Group LP lifted its stake in shares of Analog Devices by 12.6% during the 4th quarter. Cloverfields Capital Group LP now owns 19,201 shares of the semiconductor company's stock worth $3,375,000 after purchasing an additional 2,148 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in shares of Analog Devices by 32.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 3,977 shares of the semiconductor company's stock worth $699,000 after purchasing an additional 978 shares during the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Tunc Doluca sold 16,800 shares of the firm's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $180.00, for a total value of $3,024,000.00. Following the transaction, the director now owns 71,157 shares in the company, valued at $12,808,260. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Tunc Doluca sold 16,800 shares of the firm's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $180.00, for a total value of $3,024,000.00. Following the transaction, the director now owns 71,157 shares in the company, valued at $12,808,260. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Vivek Jain sold 14,000 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $165.63, for a total value of $2,318,820.00. Following the completion of the transaction, the senior vice president now owns 18,271 shares in the company, valued at approximately $3,026,225.73. The disclosure for this sale can be found here. Insiders have sold a total of 51,700 shares of company stock worth $8,827,200 over the last quarter. 0.91% of the stock is currently owned by corporate insiders.

Analog Devices Stock Performance

Analog Devices (NASDAQ:ADI – Get Rating) last issued its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.09. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.06 billion. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. Analog Devices's revenue for the quarter was up 76.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 earnings per share. Analysts expect that Analog Devices, Inc. will post 9.42 EPS for the current fiscal year.

Analog Devices Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Tuesday, August 30th were given a $0.76 dividend. The ex-dividend date was Monday, August 29th. This represents a $3.04 annualized dividend and a dividend yield of 2.18%. Analog Devices's dividend payout ratio (DPR) is presently 83.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ADI shares. Bank of America decreased their price objective on Analog Devices from $220.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft upped their target price on Analog Devices from $165.00 to $170.00 and gave the company a "hold" rating in a research report on Thursday, August 18th. Piper Sandler reduced their target price on Analog Devices from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, August 18th. Morgan Stanley reduced their target price on Analog Devices from $186.00 to $173.00 and set an "equal weight" rating on the stock in a research report on Friday, June 10th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $210.00 target price on shares of Analog Devices in a research report on Friday, August 12th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Analog Devices has an average rating of "Moderate Buy" and a consensus price target of $195.53.

Analog Devices Profile

(Get Rating)

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.

See Also

• Get a free copy of the StockNews.com research report on Analog Devices (ADI)
• Archer Daniels Midland: Dividend Hero With 49 Years Of Increases
• Will Fully Autonomous Tractors Make Deere the Tesla of Farming?
• Magna International is Your Auto and EV One-Stop Shop Stock
• EV Battery Maker Freyr Set For Major Global Expansion
• MarketBeat: Week in Review 9/26 – 9/30

Want to see what other hedge funds are holding ADI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Analog Devices, Inc. (NASDAQ:ADI – Get Rating).

Receive News & Ratings for Analog Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Analog Devices and related companies with MarketBeat.com's FREE daily email newsletter.