Commerzbank Aktiengesellschaft FI Raises Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Commerzbank Aktiengesellschaft FI raised its position in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 14.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 13,803 shares of the semiconductor company's stock after acquiring an additional 1,746 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Analog Devices were worth $2,784,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Analog Devices by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after purchasing an additional 413,084 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Analog Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock worth $2,248,971,000 after acquiring an additional 247,737 shares during the period. Norges Bank bought a new stake in Analog Devices during the fourth quarter worth $1,755,958,000. FMR LLC lifted its holdings in Analog Devices by 0.8% during the fourth quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock worth $1,582,831,000 after acquiring an additional 61,390 shares during the period. Finally, Northern Trust Corp lifted its holdings in Analog Devices by 8.4% during the fourth quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after acquiring an additional 427,328 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ADI. Piper Sandler lowered their target price on Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Cantor Fitzgerald upgraded Analog Devices from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. Evercore ISI lifted their price target on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Analog Devices Stock Performance

NASDAQ:ADI traded up $0.88 during mid-day trading on Friday, hitting $241.85. 2,761,631 shares of the company traded hands, compared to its average volume of 3,595,310. The stock's fifty day moving average price is $230.08 and its 200-day moving average price is $214.67. Analog Devices, Inc. has a one year low of $158.65 and a one year 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. The firm has a market cap of $120.02 billion, a price-to-earnings ratio of 65.90, a price-to-earnings-growth ratio of 2.22 and a beta of 1.02.

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

Analog Devices Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given 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 1.64%. Analog Devices's dividend payout ratio (DPR) is presently 107.90%.

Insiders Place Their Bets

In related news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $196.84, for a total value of $1,968,400.00. Following the completion of the transaction, the chief executive officer owned 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total value of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares of the company's stock, valued at $40,088,010.33. This trade represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $3,327,994 in the last three months. Insiders own 0.33% of the company's stock.

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.