Assenagon Asset Management S.A. Increases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Assenagon Asset Management S.A. grew its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 213.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,725 shares of the semiconductor company's stock after buying an additional 291,155 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.09% of Analog Devices worth $86,259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in Analog Devices during the 4th quarter worth about $27,000. Menard Financial Group LLC acquired a new position in shares of Analog Devices during the 4th quarter worth about $27,000. Mainstream Capital Management LLC acquired a new position in shares of Analog Devices during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new position in shares of Analog Devices during the 4th quarter worth about $30,000. Finally, Cassady Schiller Wealth Management LLC increased its stake in shares of Analog Devices by 63.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 55 shares during the last quarter. 86.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares in the company, valued at $10,441,928.04. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,934 shares of company stock valued at $6,643,956 over the last 90 days. 0.33% of the stock is owned by insiders.

Analog Devices Stock Performance

Shares of Analog Devices stock traded down $7.09 during midday trading on Friday, hitting $225.03. The company had a trading volume of 3,349,531 shares, compared to its average volume of 3,576,995. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.10. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $111.67 billion, a price-to-earnings ratio of 71.67, a PEG ratio of 2.85 and a beta of 1.00. The company has a fifty day simple moving average of $204.95 and a 200 day simple moving average of $210.75.

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 for the quarter, beating the consensus estimate of $1.70 by $0.15. Analog Devices had a net margin of 16.75% and a return on equity of 8.91%. 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 firm earned $1.40 EPS. The business's quarterly revenue was up 22.3% on a year-over-year basis. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analog Devices Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.76%. Analog Devices's payout ratio is currently 107.90%.

Analysts Set New Price Targets

ADI has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research note on Friday, May 23rd. Piper Sandler lowered their price objective on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. UBS Group lowered their price objective on shares of Analog Devices from $295.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Evercore ISI upped their price target on shares of Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Analog Devices currently has an average rating of "Moderate Buy" and an average price target of $248.63.

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.