AustralianSuper Pty Ltd Takes Position in Analog Devices, Inc. (NASDAQ:ADI)

AustralianSuper Pty Ltd bought a new position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,577 shares of the semiconductor company's stock, valued at approximately $520,000.

A number of other institutional investors have also recently bought and sold shares of the business. Kestra Private Wealth Services LLC lifted its stake in shares of Analog Devices by 2.5% in the first quarter. Kestra Private Wealth Services LLC now owns 44,663 shares of the semiconductor company's stock valued at $9,007,000 after buying an additional 1,105 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of Analog Devices by 14.5% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 13,803 shares of the semiconductor company's stock worth $2,784,000 after buying an additional 1,746 shares during the period. Kingsview Wealth Management LLC lifted its stake in Analog Devices by 1.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 44,475 shares of the semiconductor company's stock valued at $8,969,000 after acquiring an additional 639 shares during the period. Cullen Frost Bankers Inc. raised its stake in Analog Devices by 0.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 80,591 shares of the semiconductor company's stock worth $16,253,000 after acquiring an additional 677 shares during the period. Finally, Bridgewater Advisors Inc. purchased a new stake in Analog Devices during the 1st quarter valued at approximately $333,000. Institutional investors own 86.81% of the company's stock.

Analog Devices Stock Down 1.8%

NASDAQ ADI traded down $4.35 during trading hours on Wednesday, hitting $231.15. 2,728,162 shares of the company traded hands, compared to its average volume of 3,605,523. Analog Devices, Inc. has a twelve month low of $158.65 and a twelve month high of $247.73. The stock has a market capitalization of $114.71 billion, a price-to-earnings ratio of 63.07, a P/E/G ratio of 2.22 and a beta of 1.02. The business's 50-day moving average is $230.08 and its 200-day moving average is $214.71. 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 (NASDAQ:ADI - Get Free Report) last announced its quarterly 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. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. Sell-side analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Dividend Announcement

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

Wall Street Analyst Weigh In

ADI has been the subject of a number of analyst reports. Wall Street Zen raised Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Keefe, Bruyette & Woods upgraded Analog Devices to an "outperform" rating in a research note on Wednesday, June 18th. Oppenheimer increased their price objective on Analog Devices from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $250.00 to $270.00 in a research report on Wednesday, June 18th. Finally, Evercore ISI upped 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. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $258.89.

Insider Activity

In other news, CEO Vincent Roche sold 10,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the completion of the transaction, the chief executive officer directly owned 142,996 shares in the company, valued at $28,147,332.64. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $747,593.75. Following the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,250 shares of company stock worth $3,327,994. Company insiders own 0.33% of the company's stock.

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.