Analog Devices, Inc. (NASDAQ:ADI) Shares Sold by XTX Topco Ltd

Key Points

• XTX Topco Ltd has reduced its stake in Analog Devices, Inc. by 67.6%, leaving it with 2,983 shares valued at $602,000.
• Several hedge funds have increased their stakes in Analog Devices, with notable increases including Brighton Jones LLC by 39.5% and Wellington Management Group LLP by 67.7%.
• Analysts currently rate Analog Devices with an average of 20 buy ratings and a price target of $258.89, amid recent adjustments from firms like UBS and Oppenheimer.

XTX Topco Ltd lowered its stake in shares of Analog Devices, Inc. (NASDAQ:ADI - Free Report) by 67.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,983 shares of the semiconductor company's stock after selling 6,229 shares during the quarter. XTX Topco Ltd's holdings in Analog Devices were worth $602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Analog Devices by 284.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 31,050 shares of the semiconductor company's stock worth $6,262,000 after acquiring an additional 22,973 shares in the last quarter. Freestone Grove Partners LP purchased a new position in shares of Analog Devices in the fourth quarter worth about $10,212,000. Sowell Financial Services LLC purchased a new position in shares of Analog Devices in the first quarter worth about $296,000. Keybank National Association OH raised 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 during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in shares of Analog Devices by 4.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,072 shares of the semiconductor company's stock worth $1,224,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 86.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Williams Trading set a $260.00 price objective on Analog Devices in a research note on Friday, May 23rd. Evercore ISI raised their price objective on Analog Devices from $231.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Citigroup restated a "buy" rating and issued a $290.00 price objective (up from $260.00) on shares of Analog Devices in a research note on Monday, July 7th. TD Cowen lifted their price target on Analog Devices from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Barclays lifted their price target on Analog Devices from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Six 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Analog Devices Price Performance

Shares of NASDAQ:ADI traded up $0.83 during trading 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. The business has a fifty day moving average price of $232.32 and a 200-day moving average price of $215.78. The stock has a market cap of $111.14 billion, a PE ratio of 61.02, a PEG ratio of 2.06 and a beta of 1.05. Analog Devices, Inc. has a 1-year low of $158.65 and a 1-year high of $247.73.

Analog Devices (NASDAQ:ADI - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The semiconductor company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.15. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.50 billion. Analog Devices had a return on equity of 9.56% and a net margin of 18.65%. The firm's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 earnings per share. On average, equities analysts forecast 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 paid a dividend of $0.99 per share. The ex-dividend date of this dividend 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 107.90%.

Insiders Place Their Bets

In other Analog Devices news, Director Ray Stata sold 3,125 shares of the business's stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company's stock.

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.