Analog Devices, Inc. (NASDAQ:ADI) Shares Bought by Banco Santander S.A.

Key Points

• Banco Santander S.A. significantly increased its holdings in Analog Devices, Inc. by 1,149%, purchasing an additional 63,976 shares to own a total of 69,544 shares valued at $14,025,000.
• In addition to Banco Santander, other institutional investors such as China Universal Asset Management and Keybank National Association also boosted their stakes, indicating strong interest in Analog Devices, with institutional ownership now reaching 86.81%.
• Analysts have issued a positive outlook on the stock, with Goldman Sachs assigning a "buy" rating and a price target of $285.00, while the consensus rating stands at "Moderate Buy" with a price target of $258.89.

Banco Santander S.A. increased its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1,149.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,544 shares of the semiconductor company's stock after acquiring an additional 63,976 shares during the quarter. Banco Santander S.A.'s holdings in Analog Devices were worth $14,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its stake in shares of Analog Devices by 284.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock valued at $6,262,000 after acquiring an additional 22,973 shares during the period. Broderick Brian C raised its stake in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock valued at $16,831,000 after acquiring an additional 2,017 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Analog Devices in the fourth quarter valued at $10,212,000. Sowell Financial Services LLC purchased a new stake in shares of Analog Devices in the first quarter valued at $296,000. Finally, Keybank National Association OH raised its stake in shares of Analog Devices by 85.8% in the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock valued at $5,461,000 after acquiring an additional 12,505 shares during the period. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Performance

ADI stock traded up $0.69 during trading on Monday, reaching $222.40. The company had a trading volume of 2,847,623 shares, compared to its average volume of 3,454,398. The firm has a 50-day simple moving average of $231.54 and a 200-day simple moving average of $215.64. The company has a market cap of $110.37 billion, a price-to-earnings ratio of 60.60, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. Analog Devices's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the business earned $1.40 EPS. As a group, sell-side analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's payout ratio is presently 107.90%.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director directly owned 167,571 shares in the company, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ADI. Cfra Research downgraded shares of Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, May 22nd. KGI Securities began coverage on shares of Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating on the stock. Barclays raised their price target on shares of Analog Devices from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Seaport Res Ptn raised shares of Analog Devices from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. Finally, Raymond James Financial raised shares of Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Company Profile

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.