Truist Financial Corp raised its stake in Analog Devices, Inc. (NASDAQ:ADI – Get Rating) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,059,948 shares of the semiconductor company's stock after acquiring an additional 203,656 shares during the period. Truist Financial Corp owned about 0.40% of Analog Devices worth $300,938,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Analog Devices by 2.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,807,729 shares of the semiconductor company's stock worth $1,785,221,000 after purchasing an additional 218,505 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Analog Devices by 13.7% during the first quarter. Wellington Management Group LLP now owns 9,338,263 shares of the semiconductor company's stock worth $1,542,495,000 after purchasing an additional 1,125,178 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Analog Devices by 3.1% during the first quarter. Invesco Ltd. now owns 8,141,005 shares of the semiconductor company's stock worth $1,344,732,000 after purchasing an additional 247,249 shares during the last quarter. Norges Bank bought a new stake in shares of Analog Devices during the fourth quarter worth $1,092,374,000. Finally, American Century Companies Inc. lifted its stake in shares of Analog Devices by 12.2% during the first quarter. American Century Companies Inc. now owns 3,863,572 shares of the semiconductor company's stock valued at $638,185,000 after acquiring an additional 419,114 shares during the period. 85.22% of the stock is currently owned by institutional investors.
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Analysts Set New Price Targets
Several brokerages have recently issued reports on ADI. Truist Financial upped their price target on Analog Devices from $203.00 to $209.00 and gave the company a "buy" rating in a research note on Thursday, August 18th. Needham & Company LLC lowered Analog Devices from a "buy" rating to a "hold" rating in a research note on Thursday, August 18th. Oppenheimer reissued an "outperform" rating and issued a $210.00 target price on shares of Analog Devices in a research note on Friday, August 12th. Morgan Stanley cut their target price 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. Finally, The Goldman Sachs Group cut their target price on Analog Devices from $185.00 to $167.00 in a research note on Friday, July 15th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.53.
Insider Buying and Selling at Analog Devices
In other Analog Devices news, Director Tunc Doluca sold 2,300 shares of Analog Devices stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $160.00, for a total value of $368,000.00. Following the completion of the transaction, the director now directly owns 85,357 shares of the company's stock, valued at approximately $13,657,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through
this hyperlink. In other news, Director Tunc Doluca sold 2,300 shares of Analog Devices stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $160.00, for a total value of $368,000.00. Following the transaction, the director now owns 85,357 shares in the company, valued at approximately $13,657,120. The sale was disclosed in a filing with the SEC, which is available at
the SEC website. Also, SVP Vivek Jain sold 14,000 shares of Analog Devices stock in a transaction 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 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 Stock Performance
Shares of ADI traded down $2.65 during mid-day trading on Friday, reaching $139.34. The company's stock had a trading volume of 3,525,972 shares, compared to its average volume of 3,081,494. Analog Devices, Inc. has a 1-year low of $138.50 and a 1-year high of $191.95. The stock has a market cap of $71.67 billion, a P/E ratio of 38.49, a PEG ratio of 1.23 and a beta of 1.16. The business has a 50-day simple moving average of $159.50 and a two-hundred day simple moving average of $158.15. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17.
Analog Devices (NASDAQ:ADI – Get Rating) last released its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.06 billion. Analog Devices had a return on equity of 11.92% and a net margin of 17.00%. The firm's revenue for the quarter was up 76.8% compared to the same quarter last year. During the same period last year, the firm posted $1.72 EPS. As a group, equities research analysts anticipate that Analog Devices, Inc. will post 9.42 earnings per share for the current fiscal year.
Analog Devices Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Tuesday, August 30th were issued a $0.76 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $3.04 annualized dividend and a yield of 2.18%. Analog Devices's dividend payout ratio is presently 83.98%.
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.
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