Vanguard Group Inc. Grows Stock Position in Analog Devices, Inc. (NASDAQ:ADI)

Key Points

• Vanguard Group Inc. increased its stake in Analog Devices, purchasing an additional 359,841 shares, bringing its total ownership to approximately 9.97% of the company, valued at nearly $10 billion.
• Multiple institutional investors have significantly boosted their holdings in Analog Devices, with GAMMA Investing LLC growing its stake by an astonishing 25,460.1% in the first quarter.
• Wall Street analysts have mixed ratings on Analog Devices, with a recent research note upgrading it to a "strong-buy" from "moderate buy", while others have adjusted target prices downwards.

Vanguard Group Inc. grew its stake in Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,465,370 shares of the semiconductor company's stock after purchasing an additional 359,841 shares during the period. Vanguard Group Inc. owned about 9.97% of Analog Devices worth $9,975,681,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its position in shares of Analog Devices by 284.4% during the 1st 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 in the last quarter. Freestone Grove Partners LP purchased a new position in Analog Devices in the 4th quarter valued at $10,212,000. Sowell Financial Services LLC purchased a new position in Analog Devices in the 1st quarter valued at $296,000. Keybank National Association OH lifted its holdings in Analog Devices by 85.8% in the 1st quarter. Keybank National Association OH now owns 27,077 shares of the semiconductor company's stock valued at $5,461,000 after purchasing an additional 12,505 shares in the last quarter. Finally, Eastern Bank lifted its holdings in Analog Devices by 6.0% in the 1st quarter. Eastern Bank now owns 196,677 shares of the semiconductor company's stock valued at $39,664,000 after purchasing an additional 11,101 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company's stock.

Insiders Place Their Bets

In other news, Director Ray Stata sold 3,125 shares of the company's stock in a transaction that occurred on 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 sale, the director owned 167,571 shares in the company, valued at $40,088,010.33. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company's stock.

Analog Devices Stock Performance

NASDAQ ADI traded up $0.83 on Friday, reaching $223.95. The stock had a trading volume of 3,078,240 shares, compared to its average volume of 3,379,463. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.51 and a current ratio of 2.08. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $247.73. The business's 50-day moving average price is $232.32 and its 200 day moving average price is $215.78. The stock has a market cap of $111.14 billion, a P/E ratio of 61.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05.

Analog Devices (NASDAQ:ADI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.56% and a net margin of 18.65%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. As a group, equities analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.99 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $3.96 dividend on an annualized basis and a yield of 1.8%. Analog Devices's payout ratio is currently 107.90%.

Wall Street Analysts Forecast Growth

ADI has been the topic of a number of research reports. Wells Fargo & Company set a $235.00 price objective on Analog Devices and gave the company an "equal weight" rating in a report on Monday, June 16th. Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a report on Friday, May 23rd. Benchmark restated a "buy" rating and issued a $260.00 price objective (down previously from $275.00) on shares of Analog Devices in a report on Friday, May 23rd. Evercore ISI raised their price objective on Analog Devices from $231.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, Williams Trading set a $260.00 price target on Analog Devices in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $258.89.

Analog Devices 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.