Tredje AP fonden Sells 64,559 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Tredje AP fonden reduced its stake in Analog Devices by 23.1%, selling 64,559 shares, leaving them with 214,520 shares valued at approximately $43.26 million.
• Analog Devices reported earnings of $1.85 per share for the latest quarter, surpassing analyst expectations of $1.70, and experienced a 22.3% increase in revenue year-over-year.
• Institutional investors now own 86.81% of Analog Devices' shares, with significant stakes increased by firms like UBS AM and Geode Capital Management.

Tredje AP fonden trimmed its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 23.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 214,520 shares of the semiconductor company's stock after selling 64,559 shares during the quarter. Tredje AP fonden's holdings in Analog Devices were worth $43,262,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ADI. Orion Capital Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth approximately $27,000. Menard Financial Group LLC acquired a new stake in shares of Analog Devices in the 4th quarter valued at approximately $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $27,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $33,000. Finally, North Capital Inc. acquired a new stake in shares of Analog Devices in the 1st quarter valued at approximately $36,000. 86.81% of the stock is owned by institutional investors.

Insider Transactions at Analog Devices

In related news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the sale, the director owned 167,571 shares in the company, valued at approximately $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Evercore ISI increased their price objective on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Seaport Res Ptn raised Analog Devices from a "strong sell" rating to a "hold" rating in a report on Monday, July 21st. Piper Sandler cut their price target on Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Cowen reaffirmed a "buy" rating on shares of Analog Devices in a report on Friday, May 23rd. Finally, KeyCorp raised their price target on Analog Devices from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Six equities research 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 company. According to data from MarketBeat, Analog Devices presently has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Analog Devices Trading Down 2.8%

ADI traded down $6.48 during trading on Thursday, hitting $224.63. The company's stock had a trading volume of 4,943,759 shares, compared to its average volume of 3,092,246. The stock's fifty day moving average price is $231.31 and its 200-day moving average price is $215.61. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73. The firm has a market capitalization of $111.47 billion, a P/E ratio of 61.21, a PEG ratio of 2.13 and a beta of 1.02. 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 announced its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.15. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Analog Devices's revenue was up 22.3% compared to the same quarter last year. Analysts anticipate that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Announces Dividend

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

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.