Invesco LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 395.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,434 shares of the semiconductor company's stock after purchasing an additional 13,915 shares during the period. Analog Devices comprises 1.4% of Invesco LLC's holdings, making the stock its 18th largest position. Invesco LLC's holdings in Analog Devices were worth $3,516,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Analog Devices by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 49,105,529 shares of the semiconductor company's stock valued at $10,432,961,000 after acquiring an additional 413,084 shares during the period. 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 valued at $2,248,971,000 after purchasing an additional 247,737 shares in the last quarter. Norges Bank acquired a new stake in shares of Analog Devices in the fourth quarter valued at about $1,755,958,000. FMR LLC increased its stake in shares of 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 purchasing an additional 61,390 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Analog Devices by 8.4% during the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock worth $1,173,026,000 after purchasing an additional 427,328 shares during the last quarter. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ADI has been the topic of several research analyst reports. Wall Street Zen upgraded Analog Devices from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. TD Cowen boosted their price target on Analog Devices from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial raised Analog Devices from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $250.00 to $270.00 in a research note on Wednesday, June 18th. Finally, Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the stock an "equal weight" rating in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and an average price target of $251.75.
Read Our Latest Research Report on ADI
Analog Devices Trading Down 0.1%
Shares of NASDAQ:ADI traded down $0.30 during midday trading on Wednesday, reaching $234.68. 3,548,623 shares of the company's stock were exchanged, compared to its average volume of 3,570,338. The stock has a market cap of $116.46 billion, a price-to-earnings ratio of 63.95, a P/E/G ratio of 2.13 and a beta of 1.00. Analog Devices, Inc. has a fifty-two week low of $158.65 and a fifty-two week high of $247.10. The firm's 50 day simple moving average is $211.70 and its two-hundred day simple moving average is $211.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.08 and a quick ratio of 1.51.
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 analysts' consensus estimates of $1.70 by $0.15. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The business's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the business earned $1.40 earnings per share. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Dividend Announcement
The company also recently declared 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 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio (DPR) is 107.90%.
Insider Transactions at Analog Devices
In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $196.84, for a total transaction of $1,968,400.00. Following the sale, the chief executive officer now directly owns 142,996 shares in the company, valued at $28,147,332.64. This represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $195.84, for a total transaction of $612,000.00. Following the completion of the transaction, the director now directly owns 180,071 shares of the company's stock, valued at $35,265,104.64. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $3,143,556 over the last ninety days. Company insiders own 0.33% of the company's stock.
Analog Devices Profile
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Free Report)
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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