Aberdeen Group plc increased its position in shares of Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 863,300 shares of the semiconductor company’s stock after purchasing an additional 36,585 shares during the quarter. Aberdeen Group plc’s holdings in Analog Devices were worth $205,509,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Analog Devices by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 49,465,370 shares of the semiconductor company’s stock valued at $9,975,681,000 after acquiring an additional 359,841 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Analog Devices by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,425,084 shares of the semiconductor company’s stock valued at $2,304,098,000 after acquiring an additional 2,407,460 shares in the last quarter. Raymond James Financial Inc. increased its position in Analog Devices by 0.3% in the 1st quarter. Raymond James Financial Inc. now owns 3,935,224 shares of the semiconductor company’s stock valued at $793,616,000 after acquiring an additional 12,666 shares in the last quarter. Amundi increased its position in Analog Devices by 29.2% in the 1st quarter. Amundi now owns 3,892,848 shares of the semiconductor company’s stock valued at $785,071,000 after acquiring an additional 880,636 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Analog Devices by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,397,181 shares of the semiconductor company’s stock valued at $685,109,000 after acquiring an additional 63,566 shares in the last quarter. Institutional investors and hedge funds own 86.81% of the company’s stock.
Analog Devices Stock Down 5.3%
Shares of NASDAQ:ADI opened at $225.32 on Friday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $258.13. The company has a 50 day moving average of $241.66 and a 200-day moving average of $224.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.79. The stock has a market cap of $110.85 billion, a price-to-earnings ratio of 57.48, a P/E/G ratio of 2.00 and a beta of 1.09.
Analog Devices Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.96 annualized dividend and a yield of 1.8%. Analog Devices’s dividend payout ratio (DPR) is presently 101.02%.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Analog Devices in a research report on Wednesday. Noble Financial upgraded shares of Analog Devices to an “outperform” rating in a research report on Wednesday, June 18th. Piper Sandler raised their price objective on shares of Analog Devices from $215.00 to $245.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Zacks Research upgraded shares of Analog Devices from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Finally, Evercore ISI lifted their price target on shares of Analog Devices from $280.00 to $303.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average price target of $275.29.
View Our Latest Stock Report on ADI
Insider Buying and Selling at Analog Devices
In related news, Director Ray Stata sold 3,125 shares of Analog Devices stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $246.92, for a total transaction of $771,625.00. Following the transaction, the director owned 155,071 shares of the company’s stock, valued at $38,290,131.32. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katsufumi Nakamura sold 2,490 shares of Analog Devices stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $248.03, for a total transaction of $617,594.70. Following the transaction, the senior vice president directly owned 13,549 shares in the company, valued at $3,360,558.47. The trade was a 15.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,240 shares of company stock worth $12,980,578 over the last ninety days. 0.33% of the stock is owned by corporate insiders.
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.
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