Commonwealth Equity Services LLC Increases Stock Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Commonwealth Equity Services LLC increased its stake in Analog Devices by 1.0%, now owning approximately 311,640 shares valued at $62.8 million.
• Several other institutional investors also significantly raised their positions in Analog Devices, with 86.81% of the stock currently owned by institutional investors.
• Analog Devices reported a 22.3% year-over-year revenue increase and earnings per share of $1.85, surpassing the consensus estimate of $1.70.

Commonwealth Equity Services LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 311,640 shares of the semiconductor company's stock after buying an additional 3,070 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of Analog Devices worth $62,849,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ADI. GAMMA Investing LLC raised its position in shares of Analog Devices by 25,460.1% during the 1st quarter. GAMMA Investing LLC now owns 2,211,715 shares of the semiconductor company's stock valued at $446,037,000 after buying an additional 2,203,062 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in Analog Devices by 301.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,581,157 shares of the semiconductor company's stock valued at $335,933,000 after purchasing an additional 1,186,981 shares in the last quarter. Deutsche Bank AG raised its position in Analog Devices by 71.0% during the fourth quarter. Deutsche Bank AG now owns 2,158,914 shares of the semiconductor company's stock valued at $458,683,000 after purchasing an additional 896,694 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Analog Devices by 25.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,333,615 shares of the semiconductor company's stock worth $708,260,000 after purchasing an additional 668,023 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Analog Devices in the 4th quarter worth about $128,965,000. 86.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Analog Devices news, Director Ray Stata sold 3,125 shares of Analog Devices 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 sale, the director 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADI. Barclays raised their price objective on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Seaport Res Ptn raised Analog Devices from a "strong sell" rating to a "hold" rating in a research note on Monday, July 21st. Cowen reissued a "buy" rating on shares of Analog Devices in a research note on Friday, May 23rd. The Goldman Sachs Group assumed coverage on shares of Analog Devices in a research note on Thursday, July 10th. They issued a "buy" rating and a $285.00 target price on the stock. Finally, Piper Sandler lowered their price target on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Six equities research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Trading Down 1.3%

Analog Devices stock opened at $221.71 on Monday. Analog Devices, Inc. has a 12 month low of $158.65 and a 12 month high of $247.73. The company has a current ratio of 2.08, a quick ratio of 1.51 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $231.54 and its two-hundred day simple moving average is $215.64. The company has a market capitalization of $110.02 billion, a price-to-earnings ratio of 60.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.70 by $0.15. The company had revenue of $2.64 billion for 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%. Analog Devices's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 EPS. As a group, equities analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is currently 107.90%.

About Analog Devices

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.

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