Mediolanum International Funds Ltd Grows Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Mediolanum International Funds Ltd significantly increased its stake in Analog Devices, with a 905.9% growth in shares, totaling $21.66 million.
• Several hedge funds adjusted their positions in Analog Devices, with 86.81% of the stock now owned by institutional investors.
• Analog Devices recently reported a quarterly earnings per share (EPS) of $1.85, exceeding analysts' expectations, alongside a revenue increase of 22.3% year-over-year.

Mediolanum International Funds Ltd raised its position in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 905.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,449 shares of the semiconductor company's stock after acquiring an additional 96,767 shares during the quarter. Mediolanum International Funds Ltd's holdings in Analog Devices were worth $21,657,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Analog Devices by 39.5% during the 4th quarter. Brighton Jones LLC now owns 1,867 shares of the semiconductor company's stock worth $397,000 after acquiring an additional 529 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Analog Devices by 8.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 830,532 shares of the semiconductor company's stock valued at $178,872,000 after buying an additional 64,252 shares during the last quarter. Howe & Rusling Inc. purchased a new position in shares of Analog Devices during the 4th quarter worth $225,000. Blair William & Co. IL lifted its stake in shares of Analog Devices by 2.6% during the 4th quarter. Blair William & Co. IL now owns 42,156 shares of the semiconductor company's stock worth $8,957,000 after purchasing an additional 1,064 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in shares of Analog Devices by 9.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 48,196 shares of the semiconductor company's stock worth $10,240,000 after buying an additional 4,339 shares during the period. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insider Activity at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Thursday, May 1st. The shares were 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 directly owned 142,996 shares in the company, valued at approximately $28,147,332.64. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $239.23, for a total transaction of $747,593.75. Following the completion of the transaction, the director owned 167,571 shares of the company's stock, valued at approximately $40,088,010.33. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,250 shares of company stock worth $3,327,994. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup reissued a "buy" rating and issued a $290.00 price objective (up from $260.00) on shares of Analog Devices in a research report on Monday, July 7th. Cantor Fitzgerald raised shares of Analog Devices from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $250.00 to $270.00 in a report on Wednesday, June 18th. Stifel Nicolaus raised their target price on shares of Analog Devices from $248.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays lifted their price target on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Finally, Wells Fargo & Company set a $235.00 target price on Analog Devices and gave the stock an "equal weight" rating in a report on Monday, June 16th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices Trading Up 0.4%

NASDAQ ADI traded up $0.89 on Wednesday, hitting $231.64. The company's stock had a trading volume of 541,820 shares, compared to its average volume of 3,970,854. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-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 company's 50-day moving average is $230.88 and its 200 day moving average is $215.42. The firm has a market cap of $114.95 billion, a PE ratio of 63.12, a PEG ratio of 2.13 and a beta of 1.02.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The semiconductor company reported $1.85 EPS for the quarter, topping 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 quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the company posted $1.40 earnings per share. As a group, analysts predict that Analog Devices, Inc. will post 7.14 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The business also recently disclosed 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 is 107.90%.

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.