Callan Family Office LLC boosted its stake in Analog Devices, Inc. (NASDAQ:ADI – Free Report) by 75.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,558 shares of the semiconductor company’s stock after buying an additional 4,548 shares during the period. Callan Family Office LLC’s holdings in Analog Devices were worth $2,513,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ADI. Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 2,407,460 shares during the period. Nuveen LLC purchased a new stake in Analog Devices in the 1st quarter valued at about $351,943,000. Amundi raised its holdings 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 buying an additional 880,636 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Analog Devices by 229.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 796,824 shares of the semiconductor company’s stock valued at $160,695,000 after buying an additional 555,065 shares during the period. Finally, Voya Investment Management LLC raised its holdings in Analog Devices by 211.9% in the 1st quarter. Voya Investment Management LLC now owns 745,251 shares of the semiconductor company’s stock valued at $150,295,000 after buying an additional 506,314 shares during the period. 86.81% of the stock is currently owned by hedge funds and other institutional investors.
Analog Devices Stock Performance
Shares of Analog Devices stock 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 market cap of $110.85 billion, a PE ratio of 57.48, a P/E/G ratio of 1.90 and a beta of 1.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32. The business has a 50-day simple moving average of $241.66 and a 200-day simple moving average of $224.21.
Analog Devices Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. Analog Devices’s dividend payout ratio is 101.02%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ADI. Stifel Nicolaus boosted their price objective on shares of Analog Devices from $248.00 to $270.00 and gave the company a “buy” rating in a report on Friday, July 18th. Morgan Stanley boosted their price objective on shares of Analog Devices from $273.00 to $288.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. KeyCorp boosted their price target on shares of Analog Devices from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Evercore ISI boosted their price target on shares of Analog Devices from $280.00 to $303.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Finally, Seaport Res Ptn upgraded shares of Analog Devices from a “strong sell” rating to a “hold” rating in a research note on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.29.
Check Out Our Latest Report on ADI
Insider Transactions at Analog Devices
In related news, Director Ray Stata sold 3,125 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $246.92, for a total value of $771,625.00. Following the completion of the transaction, the director directly owned 155,071 shares of the company’s stock, valued at $38,290,131.32. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward H. Frank sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $242.74, for a total value of $242,740.00. Following the completion of the transaction, the director directly owned 5,118 shares of the company’s stock, valued at $1,242,343.32. This trade represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,240 shares of company stock valued at $12,980,578 over the last three months. 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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