Soros Fund Management LLC Has $11 Million Position in Analog Devices, Inc. $ADI

Soros Fund Management LLC cut its stake in shares of Analog Devices, Inc. (NASDAQ:ADI) by 56.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,200 shares of the semiconductor company’s stock after selling 60,000 shares during the quarter. Soros Fund Management LLC’s holdings in Analog Devices were worth $10,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new stake in shares of Analog Devices during the second quarter worth $25,000. Activest Wealth Management boosted its holdings in shares of Analog Devices by 6,350.0% during the 1st quarter. Activest Wealth Management now owns 129 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. RMG Wealth Management LLC bought a new stake in Analog Devices during the 2nd quarter worth $26,000. Saudi Central Bank bought a new stake in Analog Devices during the 1st quarter worth $39,000. Finally, Nova Wealth Management Inc. acquired a new position in Analog Devices in the 1st quarter worth about $42,000. Institutional investors own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CAO Michael Sondel sold 8,169 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $278.03, for a total transaction of $2,271,227.07. Following the completion of the sale, the chief accounting officer directly owned 18,913 shares of the company’s stock, valued at approximately $5,258,381.39. The trade was a 30.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 1,000 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $242.74, for a total transaction of $242,740.00. Following the completion of the sale, the director owned 5,118 shares of the company’s stock, valued at approximately $1,242,343.32. This represents a 16.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 35,419 shares of company stock worth $8,791,598. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADI shares. UBS Group upped their price objective on Analog Devices from $280.00 to $320.00 and gave the company a “buy” rating in a research note on Monday. BNP Paribas Exane assumed coverage on shares of Analog Devices in a report on Tuesday, November 4th. They set an “outperform” rating and a $300.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 21st. Stifel Nicolaus set a $280.00 price target on shares of Analog Devices in a report on Friday, November 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Analog Devices from $250.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $283.61.

Analog Devices Trading Up 0.6%

NASDAQ ADI opened at $283.39 on Friday. The stock has a market capitalization of $138.76 billion, a P/E ratio of 62.15, a P/E/G ratio of 1.56 and a beta of 1.04. The business has a 50 day simple moving average of $245.39 and a 200 day simple moving average of $239.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.19 and a quick ratio of 1.68. Analog Devices, Inc. has a one year low of $158.65 and a one year high of $283.81.

Analog Devices (NASDAQ:ADI) last posted its quarterly earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 11.23% and a net margin of 20.58%.The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 EPS. Research analysts expect that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, December 8th. Analog Devices’s payout ratio is 86.84%.

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.