Findlay Park Partners LLP Decreases Stake in Analog Devices, Inc. $ADI

Findlay Park Partners LLP lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 51.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 325,618 shares of the semiconductor company’s stock after selling 350,100 shares during the period. Findlay Park Partners LLP’s holdings in Analog Devices were worth $77,504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADI. Quadrant Capital Group LLC lifted its holdings in Analog Devices by 17.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 12,367 shares of the semiconductor company’s stock worth $2,944,000 after buying an additional 1,823 shares during the last quarter. Vinva Investment Management Ltd lifted its stake in Analog Devices by 57.7% during the second quarter. Vinva Investment Management Ltd now owns 33,896 shares of the semiconductor company’s stock worth $8,032,000 after purchasing an additional 12,407 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in Analog Devices by 70.8% in the second quarter. Northwest & Ethical Investments L.P. now owns 77,067 shares of the semiconductor company’s stock valued at $18,339,000 after purchasing an additional 31,950 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Analog Devices by 5.8% in the second quarter. Russell Investments Group Ltd. now owns 377,178 shares of the semiconductor company’s stock valued at $89,693,000 after purchasing an additional 20,819 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Analog Devices during the second quarter worth approximately $714,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Martin Cotter sold 12,500 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $246.25, for a total transaction of $3,078,125.00. Following the transaction, the senior vice president directly owned 63,048 shares in the company, valued at $15,525,570. The trade was a 16.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ray Stata sold 3,125 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $230.21, for a total transaction of $719,406.25. Following the transaction, the director directly owned 142,571 shares of the company’s stock, valued at $32,821,269.91. This represents a 2.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,750 shares of company stock worth $9,598,496 over the last quarter. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADI shares. Morgan Stanley boosted their price objective on shares of Analog Devices from $288.00 to $293.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Analog Devices from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler set a $290.00 price objective on shares of Analog Devices in a research note on Tuesday. Truist Financial lifted their target price on Analog Devices from $249.00 to $258.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Analog Devices from $250.00 to $265.00 and gave the company an “equal weight” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $281.87.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $257.92 on Thursday. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $260.74. The stock has a market capitalization of $126.89 billion, a price-to-earnings ratio of 65.80, a PEG ratio of 1.98 and a beta of 1.09. The company has a 50-day simple moving average of $239.06 and a 200-day simple moving average of $235.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.79 and a current ratio of 2.32.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.04. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Analog Devices had a return on equity of 10.32% and a net margin of 18.85%.The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 EPS. On average, analysts predict that Analog Devices, Inc. will post 7.14 EPS for the current year.

Analog Devices Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be given a dividend of $0.99 per share. The ex-dividend date is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a yield of 1.5%. Analog Devices’s dividend payout ratio is presently 101.02%.

Analog Devices Company 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.