Sowell Financial Services LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,466 shares of the semiconductor company's stock, valued at approximately $296,000.
A number of other large investors have also made changes to their positions in ADI. Vanguard Group Inc. increased 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 buying an additional 413,084 shares during the period. Geode Capital Management LLC increased its stake in Analog Devices by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 10,612,183 shares of the semiconductor company's stock valued at $2,248,971,000 after buying an additional 247,737 shares during the period. Norges Bank acquired a new position in Analog Devices in the 4th quarter valued at approximately $1,755,958,000. FMR LLC increased its stake in Analog Devices by 0.8% in the 4th quarter. FMR LLC now owns 7,450,018 shares of the semiconductor company's stock valued at $1,582,831,000 after buying an additional 61,390 shares during the period. Finally, Northern Trust Corp increased its stake in Analog Devices by 8.4% in the 4th quarter. Northern Trust Corp now owns 5,521,162 shares of the semiconductor company's stock valued at $1,173,026,000 after buying an additional 427,328 shares during the period. Institutional investors and hedge funds own 86.81% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Seaport Res Ptn upgraded shares of Analog Devices to a "strong sell" rating in a research note on Wednesday, April 30th. Piper Sandler decreased their target price on shares of Analog Devices from $240.00 to $215.00 and set a "neutral" 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. Needham & Company LLC reissued a "hold" rating on shares of Analog Devices in a research report on Friday, May 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Analog Devices from $225.00 to $248.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Analog Devices has an average rating of "Moderate Buy" and an average target price of $251.75.
Read Our Latest Stock Analysis on Analog Devices
Analog Devices Stock Performance
Analog Devices stock traded down $1.30 during mid-day trading on Friday, reaching $228.35. The company had a trading volume of 5,316,062 shares, compared to its average volume of 3,565,501. The company has a quick ratio of 1.51, a current ratio of 2.08 and a debt-to-equity ratio of 0.19. Analog Devices, Inc. has a 52 week low of $158.65 and a 52 week high of $247.10. The company has a 50 day moving average of $209.55 and a 200-day moving average of $211.06. The firm has a market cap of $113.32 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 2.11 and a beta of 1.00.
Analog Devices (NASDAQ:ADI - Get Free Report) last issued 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. 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 the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $1.40 EPS. The business's revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts expect that Analog Devices, Inc. will post 7.14 EPS for the current fiscal year.
Analog Devices Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, June 4th. Analog Devices's dividend payout ratio is 107.90%.
Insider Activity
In other Analog Devices news, EVP Vivek Jain sold 12,684 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.00, for a total value of $2,663,640.00. Following the transaction, the executive vice president now directly owns 43,175 shares in the company, valued at $9,066,750. The trade was a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent Roche sold 10,000 shares of the company'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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,934 shares of company stock worth $5,807,196. 0.33% of the stock is currently owned by corporate insiders.
About Analog Devices
(
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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