Baillie Gifford & Co. Has $117.64 Million Stake in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Baillie Gifford & Co. significantly reduced its stake in Analog Devices, Inc. by 80.8% in the first quarter, selling over 2.4 million shares and now owns approximately 0.12% of the company valued at $117.6 million.
• Analog Devices reported earnings of $1.85 per share for the last quarter, exceeding consensus estimates of $1.70, alongside a 22.3% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.99 per share, representing an annualized yield of 1.74% and a payout ratio of 107.90%.

Baillie Gifford & Co. lessened its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 80.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 583,320 shares of the semiconductor company's stock after selling 2,457,946 shares during the period. Baillie Gifford & Co. owned 0.12% of Analog Devices worth $117,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in shares of Analog Devices during the fourth quarter valued at about $27,000. Menard Financial Group LLC acquired a new position in Analog Devices in the fourth quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new position in shares of Analog Devices during the first quarter worth approximately $27,000. North Capital Inc. acquired a new position in shares of Analog Devices during the first quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC raised its position in Analog Devices by 209.8% in the 1st quarter. Wolff Wiese Magana LLC now owns 189 shares of the semiconductor company's stock valued at $38,000 after buying an additional 128 shares during the last quarter. Institutional investors own 86.81% of the company's stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the sale, the chief executive officer directly owned 142,996 shares of the company's stock, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction 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 of the company's stock, valued at approximately $40,088,010.33. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,250 shares of company stock valued at $3,327,994. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADI. TD Cowen upped their price objective on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Cfra Research cut Analog Devices from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, May 22nd. KeyCorp raised their price target on Analog Devices from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler cut their price objective on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Stifel Nicolaus lifted their price target on Analog Devices from $248.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Analog Devices has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Analog Devices Stock Up 0.3%

Shares of ADI traded up $0.68 during midday trading on Wednesday, hitting $231.43. The company had a trading volume of 406,027 shares, compared to its average volume of 3,969,457. The company's 50 day moving average price is $230.88 and its 200 day moving average price is $215.42. The stock has a market cap of $114.85 billion, a price-to-earnings ratio of 62.95, a PEG ratio of 2.13 and a beta of 1.02. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.73. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.15. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business posted $1.40 EPS. Analog Devices's revenue was up 22.3% on a year-over-year basis. On average, equities research analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 annualized dividend and a dividend yield of 1.71%. Analog Devices's dividend payout ratio (DPR) is 107.90%.

Analog Devices 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.