Phoenix Financial Ltd. trimmed its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 28.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,791 shares of the semiconductor company's stock after selling 1,861 shares during the period. Phoenix Financial Ltd.'s holdings in Analog Devices were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings in Analog Devices by 284.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock valued at $6,262,000 after buying an additional 22,973 shares during the last quarter. Broderick Brian C increased its stake in shares of Analog Devices by 2.6% in the fourth quarter. Broderick Brian C now owns 79,221 shares of the semiconductor company's stock worth $16,831,000 after purchasing an additional 2,017 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Analog Devices in the fourth quarter worth $10,212,000. Sowell Financial Services LLC purchased a new stake in shares of Analog Devices in the first quarter worth $296,000. Finally, Keybank National Association OH increased its stake in shares of Analog Devices by 85.8% in the first quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock worth $5,461,000 after purchasing an additional 12,505 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.
Analog Devices Trading Up 0.4%
Shares of ADI stock traded up $0.99 during trading hours on Wednesday, reaching $231.74. 472,657 shares of the stock were exchanged, compared to its average volume of 3,970,126. 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 company's 50-day moving average price is $230.88 and its 200-day moving average price is $215.42. The firm has a market capitalization of $115.00 billion, a price-to-earnings ratio of 63.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02.
Analog Devices (NASDAQ:ADI - Get Free Report) last released 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. Analog Devices had a net margin of 18.65% and a return on equity of 9.56%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the company earned $1.40 EPS. The firm's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities analysts anticipate that Analog Devices, Inc. will post 7.14 earnings per share for the current year.
Analog Devices Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.99 per share. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.71%. Analog Devices's payout ratio is 107.90%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ADI. Wall Street Zen raised shares of Analog Devices from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. KGI Securities assumed coverage on shares of Analog Devices in a research note on Friday, May 23rd. They issued a "buy" rating for the company. Morgan Stanley dropped their target price on shares of Analog Devices from $214.00 to $212.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Wells Fargo & Company set a $235.00 target price on shares of Analog Devices and gave the stock an "equal weight" rating in a research report on Monday, June 16th. Finally, Williams Trading set a $260.00 target price on shares of Analog Devices in a research report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $258.89.
Check Out Our Latest Analysis on ADI
Insider Transactions at Analog Devices
In other news, CEO Vincent Roche sold 10,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 142,996 shares in the company, valued at approximately $28,147,332.64. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ray Stata sold 3,125 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $239.23, for a total transaction 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 represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $3,327,994 in the last quarter. 0.33% of the stock is currently owned by company insiders.
Analog Devices Profile
(
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.
See Also
Before you consider Analog Devices, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Analog Devices wasn't on the list.
While Analog Devices currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
