Tenere Capital LLC Buys New Shares in Analog Devices, Inc. $ADI

Tenere Capital LLC purchased a new stake in shares of Analog Devices, Inc. (NASDAQ:ADI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,000 shares of the semiconductor company’s stock, valued at approximately $24,516,000. Analog Devices comprises about 6.3% of Tenere Capital LLC’s investment portfolio, making the stock its 5th largest holding.

A number of other hedge funds have also recently bought and sold shares of the stock. EDENTREE ASSET MANAGEMENT Ltd raised its stake in shares of Analog Devices by 13.1% during the 2nd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 54,650 shares of the semiconductor company’s stock worth $13,005,000 after purchasing an additional 6,325 shares in the last quarter. Dearborn Partners LLC grew its stake in shares of Analog Devices by 13.7% in the second quarter. Dearborn Partners LLC now owns 7,400 shares of the semiconductor company’s stock valued at $1,761,000 after buying an additional 890 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Analog Devices by 6.1% during the second quarter. NewEdge Advisors LLC now owns 94,026 shares of the semiconductor company’s stock worth $22,380,000 after buying an additional 5,375 shares during the last quarter. Albar Capital Partners LLP raised its position in Analog Devices by 138.9% during the second quarter. Albar Capital Partners LLP now owns 172,037 shares of the semiconductor company’s stock worth $40,948,000 after acquiring an additional 100,018 shares in the last quarter. Finally, AXA S.A. lifted its stake in Analog Devices by 29.4% in the second quarter. AXA S.A. now owns 189,400 shares of the semiconductor company’s stock valued at $45,081,000 after acquiring an additional 43,058 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors.

Insider Transactions at Analog Devices

In related news, CEO Vincent Roche sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $234.95, for a total transaction of $2,349,500.00. Following the transaction, the chief executive officer directly owned 163,640 shares of the company’s stock, valued at approximately $38,447,218. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ray Stata sold 3,125 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $230.21, for a total transaction of $719,406.25. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,250 shares of company stock valued at $6,520,371. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp lifted their price objective on shares of Analog Devices from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Truist Financial lifted their price target on Analog Devices from $249.00 to $258.00 and gave the stock a “hold” rating in a report on Wednesday, November 26th. Benchmark reissued a “buy” rating and set a $285.00 price target on shares of Analog Devices in a research report on Wednesday, November 26th. BNP Paribas began coverage on Analog Devices in a research note on Tuesday, November 4th. They issued an “outperform” rating and a $300.00 price objective on the stock. Finally, Stifel Nicolaus set a $280.00 target price on Analog Devices in a research note on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $283.61.

Analog Devices Trading Up 1.9%

Shares of NASDAQ:ADI opened at $281.57 on Thursday. Analog Devices, Inc. has a 12-month low of $158.65 and a 12-month high of $283.23. The business has a 50 day moving average of $244.56 and a 200-day moving average of $239.35. The company has a quick ratio of 1.68, a current ratio of 2.19 and a debt-to-equity ratio of 0.24. The stock has a market cap of $137.87 billion, a PE ratio of 61.75, a P/E/G ratio of 1.54 and a beta of 1.04.

Analog Devices (NASDAQ:ADI) last announced its earnings results on Tuesday, November 25th. The semiconductor company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.04. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.02 billion. Analog Devices had a return on equity of 11.23% and a net margin of 20.58%.The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 earnings per share. As a group, equities research analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.4%. Analog Devices’s dividend payout ratio (DPR) is currently 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.